{"id":240033,"date":"2024-05-20T22:12:24","date_gmt":"2024-05-20T22:12:24","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/?p=240033"},"modified":"2024-05-20T22:12:24","modified_gmt":"2024-05-20T22:12:24","slug":"who-gets-appraisal-buyer-or-seller","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/","title":{"rendered":"Who gets appraisal; buyer or seller?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#Who_gets_appraisal_buyer_or_seller\" title=\"Who gets appraisal; buyer or seller?\">Who gets appraisal; buyer or seller?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#1_What_is_a_home_appraisal\" title=\"1. What is a home appraisal?\">1. What is a home appraisal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#2_Why_is_a_home_appraisal_necessary\" title=\"2. Why is a home appraisal necessary?\">2. Why is a home appraisal necessary?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#3_Who_orders_the_home_appraisal\" title=\"3. Who orders the home appraisal?\">3. Who orders the home appraisal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#4_How_much_does_a_home_appraisal_cost\" title=\"4. How much does a home appraisal cost?\">4. How much does a home appraisal cost?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#5_How_long_does_a_home_appraisal_take\" title=\"5. How long does a home appraisal take?\">5. How long does a home appraisal take?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#6_Can_a_seller_request_an_appraisal\" title=\"6. Can a seller request an appraisal?\">6. Can a seller request an appraisal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#7_What_happens_if_the_appraisal_comes_in_lower_than_the_purchase_price\" title=\"7. What happens if the appraisal comes in lower than the purchase price?\">7. What happens if the appraisal comes in lower than the purchase price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#8_Can_a_buyer_challenge_a_low_appraisal\" title=\"8. Can a buyer challenge a low appraisal?\">8. Can a buyer challenge a low appraisal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#9_What_factors_can_influence_a_home_appraisal\" title=\"9. What factors can influence a home appraisal?\">9. What factors can influence a home appraisal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#10_How_long_is_a_home_appraisal_valid\" title=\"10. How long is a home appraisal valid?\">10. How long is a home appraisal valid?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#11_Can_a_home_appraisal_be_transferred_to_a_new_buyer\" title=\"11. Can a home appraisal be transferred to a new buyer?\">11. Can a home appraisal be transferred to a new buyer?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#12_How_can_buyers_and_sellers_prepare_for_a_home_appraisal\" title=\"12. How can buyers and sellers prepare for a home appraisal?\">12. How can buyers and sellers prepare for a home appraisal?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Who_gets_appraisal_buyer_or_seller\"><\/span>Who gets appraisal; buyer or seller?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The answer to the question &#8220;Who gets appraisal; buyer or seller?&#8221; is that traditionally the buyer pays for the appraisal. However, it ultimately depends on the specific circumstances of the real estate transaction and can be negotiated between the buyer and seller.<\/p>\n<p>An appraisal is an important part of the home buying process as it determines the fair market value of the property. Appraisals are typically conducted by a licensed appraiser who evaluates the property based on factors such as location, size, condition, and comparable sales in the area. <\/p>\n<p>Here are some commonly asked questions related to appraisals in real estate:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_What_is_a_home_appraisal\"><\/span>1. What is a home appraisal?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nA home appraisal is an unbiased estimate of the fair market value of a property conducted by a licensed appraiser.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Why_is_a_home_appraisal_necessary\"><\/span>2. Why is a home appraisal necessary?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nA home appraisal is necessary to ensure that the property&#8217;s value is in line with the purchase price, as well as to protect the lender&#8217;s investment.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Who_orders_the_home_appraisal\"><\/span>3. Who orders the home appraisal?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nTypically, the buyer&#8217;s lender orders the home appraisal as part of the mortgage approval process.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_How_much_does_a_home_appraisal_cost\"><\/span>4. How much does a home appraisal cost?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe cost of a home appraisal can vary depending on the location and complexity of the property, but it usually ranges from $300 to $500.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_How_long_does_a_home_appraisal_take\"><\/span>5. How long does a home appraisal take?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nA home appraisal can take anywhere from a few days to a few weeks, depending on the availability of the appraiser and the complexity of the property.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Can_a_seller_request_an_appraisal\"><\/span>6. Can a seller request an appraisal?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nWhile sellers can request an appraisal, it is more common for the buyer or lender to order the appraisal.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_What_happens_if_the_appraisal_comes_in_lower_than_the_purchase_price\"><\/span>7. What happens if the appraisal comes in lower than the purchase price?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf the appraisal comes in lower than the purchase price, the buyer may have to renegotiate with the seller or come up with additional funds to cover the difference.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_Can_a_buyer_challenge_a_low_appraisal\"><\/span>8. Can a buyer challenge a low appraisal?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nBuyers can challenge a low appraisal by providing additional evidence or information to the appraiser, but there is no guarantee that the appraisal will be changed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_What_factors_can_influence_a_home_appraisal\"><\/span>9. What factors can influence a home appraisal?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nFactors that can influence a home appraisal include the property&#8217;s location, size, condition, recent renovations, and comparable sales in the area.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_How_long_is_a_home_appraisal_valid\"><\/span>10. How long is a home appraisal valid?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nA home appraisal is typically valid for up to six months, but some lenders may require a new appraisal if the transaction is delayed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_Can_a_home_appraisal_be_transferred_to_a_new_buyer\"><\/span>11. Can a home appraisal be transferred to a new buyer?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nA home appraisal is usually tied to a specific buyer and lender, so it cannot be transferred to a new buyer.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_How_can_buyers_and_sellers_prepare_for_a_home_appraisal\"><\/span>12. How can buyers and sellers prepare for a home appraisal?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nBuyers and sellers can prepare for a home appraisal by ensuring the property is clean and well-maintained, providing the appraiser with accurate information, and being present during the appraisal to answer any questions. <\/p>\n<p>In conclusion, while the buyer typically pays for the home appraisal, both buyers and sellers should understand the importance of the appraisal process and be prepared for any potential outcomes. It is essential to work with a knowledgeable real estate agent or lender to navigate the appraisal process successfully.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Who gets appraisal; buyer or seller? The answer to the question &#8220;Who gets appraisal; buyer or seller?&#8221; is that traditionally the buyer pays for the appraisal. However, it ultimately depends on the specific circumstances of the real estate transaction and can be negotiated between the buyer and seller. An appraisal is an important part of &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Who gets appraisal; buyer or seller?\" class=\"read-more button\" href=\"https:\/\/namso-gen.co\/blog\/who-gets-appraisal-buyer-or-seller\/#more-240033\">Read more<span class=\"screen-reader-text\">Who gets appraisal; buyer or seller?<\/span><\/a><\/p>\n","protected":false},"author":60,"featured_media":107420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86279],"tags":[],"class_list":["post-240033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learn","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Who gets appraisal; buyer or seller?<\/title>\n<meta name=\"description\" content=\"Who gets appraisal; buyer or seller? 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