Appraisal Fee

Definition

• A cost charged by professionals who are hired to offer educated opinions about the monetary worth or value of a property.

Synonyms
assessment cost, statement, bill, invoice, service fee

Alternate Spellings
fees

Related Terms and Acronyms

• Appraisal — Definition,
  • An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
• Closing Costs — Definition,
  • The miscellaneous expenses involved in closing a real estate transaction that are over and above the purchase price. Some of the closing costs include title insurance, appraisal fee.
• Pre-paid Expenses — Definition,
  • also called prepaid items or prepaids -- Recurring costs such as taxes, insurance and interest that are paid at closing and which cannot be financed.