Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (888) 259-2257
Apply Now

Home Appraisals

A home appraisal is used to help lenders, buyers, and sellers come to an understanding of how much a home is worth, or its market value.

Home Appraisals

Home Appraisals

A home appraisal is used to help lenders, buyers, and sellers come to an understanding of how much a home is worth, or its market value. Appraisers visually inspect the home and compare it to similar homes in the area. Throughout the appraisal they will research the neighbor crime rate, quality of schools, access to highways, public areas, etc., and take note of all features and issues throughout the home. Fidelity Home Group is here to make sure you are ready for your home appraisal!

Home appraisals are a vital component of mortgage lending. See how the appraisal process works and learn how it protects you as a homebuyer.

Financing your new home is a process with numerous steps. The home appraisal is a step that can be particularly confusing too many buyers. Is the value of your home what you and the seller just agreed on? Is it the tax assessment value or what the house last sold for? How is the appraisal different from the inspection I just completed? Here are the answers that you need to get you through one of the final—and most important—steps of the home buying process.

What Is a Home Appraisal?

A home appraisal is an unbiased report on the worth of a house in the fair market, performed by a trained and licensed individual. Appraisals are needed to ensure the homebuyer, the home seller and the mortgage lender receive the accurate and true value of the real estate in question.

In most residential property transactions you are able to choose your real estate agent and your lender, but you cannot choose your appraiser. Instead the appraiser must be chosen by your lender to provide a level of independence from the buyer and seller.

In order to ensure that appraisals are impartial the Appraisal Independence Requirements, or AIR, prohibits a lender’s loan production staff from having direct contact with—or influence upon—any appraisers.

To reduce the risk of violating AIR many lenders now hire appraisers via appraisal management companies. These companies work with many residential appraisers in order to cover a more diverse housing market and to reduce the risk of improper influence.

How Does a Qualified Appraisal Help Me?

An accurate appraisal has the power to protect home sellers, homebuyers and mortgage lenders. Therefore, it is important to make sure that a qualified, independent appraiser evaluates your potential home.

Appraisers and appraisal management companies are licensed by individual states and they are regulated at both the state and federal level. For example, the Dodd-Frank Wall Street Reform and Consumer Protection Act ensures that real estate appraisers make their decisions based on their own knowledge and judgement, without pressure from lenders or other individuals.

Home Appraisal vs Home Inspection: What’s the Difference?

Although the home appraisal may seem similar to the home inspection, the goals of these two processes are very different.

  • The appraiser determines the value of the house.
  • The inspector determines any repairs needed, and their potential cost.
Typical Duties Home Inspector Appraiser

Checks the condition of all major systems and structures in and around the home, such as HVAC and roofing.

       X          X

May provide repair cost estimates for any damage or latent issues that may influence the home purchase price negotiations.


Checks the prices of recent comparable home sales in the area.


Gives the buyer and lender a report detailing their findings and the repair recommendations.


Gives the buyer, seller, and lender a report detailing how they calculated the value of the home.


What Does a Home Appraisal Cost? Who Pays for It?

Fidelity Home Group arrange for your appraisal, the buyer is ultimately responsible for the cost. Generally appraisal fees range between $450 and $750, depending on the size and location of your property.

Don’t let this cost stop you from making offers: The home appraisal will only occur after your offer has been accepted by the seller and you have begun to work with a lender to finance your new home. You do not need to complete appraisals on every house you choose to bid on.

What Factors Determine a Home’s Value?

There are several steps taken by an appraiser to determine a property’s value, which include visiting the property in-person and reviewing recently-completed sales of comparable homes. The data gathered by the appraiser during this process is combined and presented to you in a final report of value.

Viewing the Property

The in-person part of an appraisal often takes over an hour, depending on your home size. The appraiser will measure the property’s square footage, check the number of bedrooms and bathrooms in your home and compare the findings with housing data provided by local county records to ensure accuracy.

The appraiser also will check the status of the major systems and structure of the house. During a viewing, appraisals usually answer questions such as,

  • Is there water, termite or mold damage?
  • Is the furnace in good shape?
  • Does the plumbing leak?
  • Will any major systems or structures need replacement, such as the roof?

Appraisers will account for many home improvements and upgrades as well. This is perhaps the most confusing area for new buyers and sellers, due to the fact that remodeling and other home upgrades may not have universal value.

For example, a new roof will be desirable to nearly any buyer, but the costs and upkeep of a swimming pool may not be. It’s advisable to put in some research before you begin a home remodeling project to ensure your investment is worthwhile.

Comparables: Evaluation of Similar Home Sales

The next step is for the appraiser to look at comparables, also often referred to as “comps.” Comparables are similar homes that have recently sold in the general area or even that specific neighborhood or subdivision. Appraisers look for houses that share similar characteristics with the subject property, such as size, age and architectural style. Comps typically only include homes listed and sold within the past three to six months.

The Final Report of Value

The last step in the home appraisal process is preparing a final report of value. This report will provide you and your Fidelity Home Group with a complete property analysis. It will also outline how the appraiser calculated your home’s worth. Typically, the final report of value will cover the following items:

  • Size and condition of the house
  • Comments about serious structural problems, like cracked foundations, wet basements, windows that need replacement and roofing that needs repair
  • Permanent fixtures, such as lights, ceiling fans and plumbing, including faucets
  • Details about any home renovations such as updated kitchens, bathrooms or new flooring
  • Comments about the surrounding area, including positive and negative local features
  • Maps, photographs and sketches of the property, both inside and out
  • A detailed current market analysis, including recent sales of comparable homes
Mortgage Calculator
Helpful Tools
Get Pre-Qualified Prove you are ready to buy
See Current Mortgage Rates Compare today’s rate in real time
Mortgage Calculator Estimate your monthly payment
Affordability Calculator See how much you can afford.
Mortgage Glossary Read mortgage terms & definitions
See How Much You Can Borrow

You’ve estimated your affordability, now get pre-qualified by Fidelity Home Group to find out just how much you can borrow.

Get Pre-Qualified

We deliver an unparalelled concierge experience for all of our clients.

See Our Reviews
Affordability Qualifier


Copyright © 2022 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Fidelity Home Group is a Mortgage Corporation serving the state of Florida. Not intended for legal or financial advice, consult your own professionals if such advice is sought. This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties in the state of New York will be accepted through this site. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  File a Complaint Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use 

florida mortgage, florida mortgage rates, florida mortgage claculator, florida mortgage broker, florida mortgage lender, florida mortgage compamny, mortgage broker near me, mortgage brokers near me, orlando mortgage, orlando mortgage rates, the villages mortgage, the villages mortgage rates, the villages mortgage lender, the villages mortgage broker, naples mortgage, naples mortgage rates, naples mortgage lender, naples mortgage broker, florida keys mortgage, florida keys mortgage rates, florida keys mortrgage lender, florida keys mortgage broker, cape coral mortgage, cape coral mortgage rates, fort myers mortgage, cape coral mortgage lender, cape coral mortgage broker, fort myers mortgage rates, fort mayer mortgage, fort myers mortgage lender, fort myers mortgage broker, sanible island mortgage, sanibel island mortgage rates, sanibel mortgage lender, sanibel mortgage broker, anna maria island mortgage, anna maria island mortgage rates, anna marie mortgage lender, anna maria mortgage broker, clearwater mortgage, clearwater mortgage rates, clearwater mortgage lender, clearwater mortgage broker, bonita springs mortgage, bonita springs mortgage rates, bonita springs mortgage lender, bonita springs mortgage broker, marco island mortgage, marco island mortgage rates, marco island mortgage lender, marco island mortgage broker, st. augustine mortgage, st augustine mortgage rates, st. augustine mortgage lender, st. augustine mortgage broker, st. augustine beach mortgage, st. augustine beach mortgage rates, st. augustine beach mortgage lender, st. augustine beach mortgage broker, tampa Bay mortgage, tampa bay mortgage rates, tampe bay mortgage lender, tampa bay mortgage broker, st. petersburg mortgage, st. petersburg mortgage rates, st. petersburg mortgage lendser, st. petersburg mortgage broker, bradenton mortgage, bradenton mortgage rates, bradenton mortgage lender, bradenton mortgage broker, bradenton beach mortgage, bradenton beach mortgage rates, bradenton beach mortgage lender, brandenton beach mortgage broker, sarasota mortgage, sarasota mortgage rates, sarasota mortgage lender, sarasota mortgage broker, longboat key mortgage, longboat key mortgage rates, long boat key mortgage lender, long boat key mortgage broekr, key west mortgage, key west mortgage rates, key west mortgage broker, key west mortgage lender, key largo mortgage, key largo mortgage rates, key largo mortgage lender, key largo mortgage broker, isalamorada mortgage, islamorada mortgage rates, islamorada mortgage lender, islamorada mortgage broker, big pine key mortgage, big pine key mortgage rates, big pine key mortgage lender, big pine key mortgage broker, marathon fl mortgage, marathon fl mortgage rates, marathon fl mortgage lender, marathon fl mortgage broker, upper keys mortgage, upper keys mortgage rates, upper key mortgage lender, upper keys mortgage broker, lower keys mortgage, lower keys mortgage rates, lower key mortgage lender, lower keys mortgage broker, apalachicola mortgage, apalachicola mortgage rates, apalachicola mortgage lender, apalachicola mortgage broker, st. geoerge island mortgage, st. geoerge mortgage rates, panama city mortgage, st. geoerge island mortgage lender, st. geoerge island mortgage broker, panama city mortgage rates, panama city mortgage, panama city mortgage lender, panama city mortgage broker, panama city beach mortgage, panama city beach mortgage rates, panama city beach mortgage lender, panama city beach mortgage broker,

Fidelity Home Group
4700 Millenia Blvd Suite 175, Orlando, FL 32839

Hours of Operation:

Monday - Friday 8am to 7pm EST
Saturday - Sunday 10am to 6 pm EST