Canadian Financial, Real Estate and Mortgage Glossary

Appraisal Fee

Definition of appraisal fee

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.