How do I get an appraisal on my house?

Contact a licensed appraiser in your area and schedule one. You can find local appraisers through the Appraisal Institute's directory, through your real estate agent, or by searching online for residential appraisers in your city. If you're selling or refinancing, the appraisal is typically ordered through your lender as part of the loan process. The lender selects the appraiser through a third-party appraisal management company to maintain independence. You pay for it, usually $400 to $600 for a standard single-family appraisal, but you don't get to choose the appraiser when a lender is involved. If you just want to know what your home is worth without selling or refinancing, you can order a private appraisal directly. Call a local licensed appraiser, tell them what you need, and they'll schedule a visit. The cost is the same and you'll receive a full appraisal report within a week or two. Before paying for an appraisal just to know your home's value, consider asking a local real estate agent for a CMA first. A comparative market analysis is free, uses similar data, and gives you a solid estimate of your home's market value without the cost of a formal appraisal.

You can look up local appraisers in your area, give them a call and hire them to appraise your home for you. You should get results within a week or two, depending on the market in your area, and how busy your appraiser is.

When selling a home, usually the buyers lender will order an appraisal which is often an expense of the buyers. If getting an independent appraisal you can just google appraisers in your area to order one.

Do you need an actual appraisal or just a professional opinion of value? Either way, reach out to your favorite real estate agent for advice. If you only need a professional opinion, get a comparative market analysis from your agent (a data-driven mini-appraisal that compares your home to recent sales in the area which is oftentimes without cost). If you need a professional appraisal, ask your real estate agent for recommendations of appraisers, expect to pay several hundred dollars, and you'll get a more thorough documented analysis along with a signed document from a licensed appraiser. Keep in mind, all of these are consider "opinions of value" and they will likely differ. As a real estate broker in Cleveland, Ohio, I have done 100s, if not 1000s, of CMAs for for homeowners, for various situations: tax complaints, preparing to sell, and just for information. Mike Ferrante, LPT Realty