What are Typical Fees for Appraisal Services?

 

While fees vary depending on the complexity of the assignment, this information should serve as a guide when discussing appraisal needs.

Narrative Appraisals ( Commercial, Office, Multifamily, Industrial, Retail, Special Use, Vacant Land, Acreage)

Restricted Appraisal Report

Fees typical range from at $500 to $2,000 and up. and are base upon the complexity of the assignment.

This is typically a 5 - 30 pages narrative report and can include a desk top analysis, drive-by or full on site inspection cataloging property characteristics, photographs, and the opinion of value. For an additional fee, it can be expanded with a quick overview of market conditions and a brief listing of comps or expanded into a summary report later. This type of report is Restricted for sole and exclusive use of the client and not for third parties. Can be used for a premlinary value and first step in determining how to proceed in a litigation matter, lender internal use, buy or sell decisions, and other limited intended uses. Not to be used for underwriting a loan. Research on comparable sales, rents, spread sheets, and other data are retained in the appraisers work file. Fees depend on complexity and difficultly of the assignment, property type, location, and other factors.

Appraisal Report (Summary Style)

Fees typically starting at $1,000 and ranging up to $7,500 depending on the scope of work and complexity of the assignment.

This is typically a 75 - 150 page narrative report that includes an on site inspection, photographs of the subject and comparable data, market trends and conditions, zoning, highest and best use, one to three approaches to value, if applicable. Typically used by owners, lenders, developers, estate tax, attorneys, and can be used for IRS depending on the level of detail. Fees depend on complexity and difficultly of the assignment, property type, location, and other factors.

Appraisal Report (Self-Contained Style)

Fees typically start at $2,000 and ranging up to $15,000 depending on the scope of work and complexity of the assignment.

This is typically a 100 - 250 page narrative report the is used by lenders, developers, governmental agencies, complex IRS issues, forensic research, expert witness, and litigation. Fees depend on complexity and difficultly of the assignment, property type, location, and other factors.
Expert Witness Testimony and Consulting Rates

After a free consultation, the rates for expert witness testimony or consultation range from $75 to $400 per hour. The range depends upon the complexity of the work and the associate assigned (Researcher, Junior Partner or Senior Partner). Call for more information.

 

For more information, contact us.