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Current Mortgage RatesVariable closed: 1.65% 1 year closed: 1.64% 3 year closed: 1.59% 5 year closed: 1.69% 10 year closed: 2.84% Glossary
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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
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50% - Moderately
50% - Moderately
Appraisal Fee
Synonyms: | assessment cost, bill, invoice, service fee, statement |
Filed Under: | mortgages, real-estate |
Tags: | appraisal, mortgage, realty |
Definition of appraisal fee
- appraisal fee
- 1. A cost charged by professionals who are hired to offer educated opinions about the monetary worth or value of a property.
Related Terms and Acronyms:
- appraisal 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 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 also called prepaid items or prepaids -- Recurring costs such as taxes, insurance and interest that are paid at closing and which cannot be financed.
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