Who Pays Home Appraisal?
In a traditional real estate transaction, it is often the buyer’s responsibility to pay for the home appraisal because they are the ones who are getting the mortgage and their lender makes a requirement for them to have the home appraise to determine if the value was there in order for the lender to fund the loan.
Now, in some instances, the seller may want to pay for an appraisal, for example, in case they want to know what the home is truly worth before listing it, in case they don’t have a realtor that’s giving them their professional opinion on where the value may be.
And then, of course, if a buyer is refinancing their property, they will also pay for appraisal at that time as well. So if you have any questions, please leave a comment below. Please share with anyone think be helpful to and as always close with Patrice.
This has been “Who Pays Home Appraisal” by Patrice Henderson of Designed Living Real Estate. Be sure to subscribe to her YouTube channel for all your real estate tips, home tours and advice. Get your FREE listing consultation or buyer’s consultation to learn more about the buying and selling processes including more information on the home buying process and home appraisals.
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