What do Appraisals Cost ?

Appraisers, like most other service providers, charge different fees for their services.  The difference usually has to do with their cost of operation.  If you don't have to pay for an office, you can usually charge a bit less for each report.  Generally, single-family residential appraisal fees do not vary significantly in a market.  The work associated with having to complete the report, the number of hours it takes and the cost of transportation, etc. does not change that much from one firm to the next.  Thus, if you call one firm and get a bid or quote, you are likely to get a similar one from a competitor.

Since commercial (narrative) assignments take a great deal more time and effort to complete, the fees are generally much higher than single-family residential fees.  Most commercial narrative reports run from 30 to 150 typed pages depending on the complexity of the assignment and the reporting type (usually summary or self-contained reports are completed).  A much wider range of bids / quotes is likely for a commercial appraisal, we often not a 10% to 30% difference in the range.

Appraiser licensing has required a set of minimum qualifications for all appraisers.  Thus, if the appraiser is licensed to perform the work, he can.  While additional education and experience, beyond minimum licensing, may indicated that an appraiser will be more qualified to complete your assignment, that generalization does not always hold true.     

We suggest that you contact at least 3 appraisal firms for bids / quotes on your assignment.  Ask the appraisers about their experience and education related to completing your assignment.  Commercial assignments require at least a Certified General Appraiser who has been licensed by the State of Nevada.                

Contact us with your questions or concerns regarding appraisal costs / assignment fees or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at grigdon@cox.net.  

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.