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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Appraisal Fee


Synonyms:assessment cost, bill, invoice, service fee, statement
Filed Under: mortgages, real-estate
Tags: appraisal, mortgage, realty
 

Definition of appraisal fee

appraisal fee
1. A cost charged by professionals who are hired to offer educated opinions about the monetary worth or value of a property.

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.

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