Posted by Ben on March 30, 2006 at 13:32:31:
You might pay as much as $12k depending on the size of the deal.
CRE appraisal cost - Posted by Yury (MD)
Posted by Yury (MD) on March 24, 2006 at 15:34:03:
Can you guys give me an idea how much does the appraisal costs for the commercial properties? I understand it depends on a number of units, so what is the ballpark?
Also, whats the average turnaround time ?
Thanks a lot !
Yury
Re: CRE appraisal cost - Posted by Patti Porter
Posted by Patti Porter on March 26, 2006 at 12:49:23:
Appraisals are usually around $2,000 and can take 2 - 3 weeks.
Re: CRE appraisal cost - Posted by Paul Ness, MAI
Posted by Paul Ness, MAI on March 27, 2006 at 14:39:18:
It depends on the type of appraisal and type of report your lender wants. They may require a “complete” (2-3 approaches) or “limited” appraisal (1 approach) and a “self-contained” (very detailed) or “summary” (less detail) report. For apartments greater than 4 units, a general certified appraiser will typically be required and would be considered a commercial appraisal. Fees can range from $1,500 to $5,000.
Although a residential appraisal can be delivered in 2-3 weeks, commercial appraisals may take from 4-8 weeks.