Definition: The appraisal fee pays for somebody to do an appraisal on your home. An appraisal is an investigation into the value of your home. The appraiser gives the lender an idea of how much your home is worth. In case you default on your loan and the lender has to take possession of it, they want to know that they can sell it without losing too much money.
Examples:
An average appraisal fee is about $325.
