Home Selling

Georgia Home Assessment Costs

Whether you’re selling or buying a home in Georgia, you will likely be relying on an appraiser’s valuation to determine how much the property is worth. Although an appraisal is not the same thing as a listing price, or a bid for a property, it can have a significant impact on each.

So what does this mean for you and how do you ensure you’re getting the best possible deal? Understanding home appraisals and how they work. What you can expect. We asked experts to answer all your questions. Let’s get started.

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What is a home assessment?

An appraisal is simply an impartial measurement of the home’s value. Lenders typically order appraisals to confirm the value of the property and figure out what they’re willing to lend.

What is the Georgia cost for a home appraisal?

According to Patrick Adamson MAI/SRA, the outgoing president, Atlanta Area Chapter, Appraisal institute, the cost of a Georgia home appraisal is between $400-$750.

Estimates of the average national home appraisal fee range between $313 and $500

Georgia’s prices are in line with the national averages. However, they could be higher depending upon your home type, whereabouts and timing.

Joe Weathers is a single-family home specialist who has sold more than 300 homes in Dallas, Georgia. “It can vary and has gone up over the past year or two just because there’s been an increase in the number of transactions and appraisers are slammed. So they started raising prices to prioritize their appraisals.”

Let’s look at seven variables that can increase or decrease the cost of an appraisal in Georgia.

What are the factors that influence the price of a Georgia home appraisal?

Home appraisal costs are not tied directly to the home’s price.

Instead, home appraisals are based on the time and effort required to complete. Rural homes and larger properties may also require more work to appraise.

These are some of the factors that could influence the cost for a home.

Additional reading at www.homelight.com