Appraisal fees - way higher than GFE

[Adam K.]

I am purchasing a split level duplex. Its a bank owned foreclosure. My good faith estimate (GFE) appraisal fee was $450. I just got my settlement statement (HUD-1) today and the appraisal fee is listed at $635! But it gets worse. I checked the credit card that I gave the lender to pay for the appraisal and I've been charged $685!

The appraisal fee seems like something that should be well known when doing the GFE so I am very surprised to see it go up and by such a large amount. I'm curious what others think about this and also whether the appraisal fee is high in general. I am in New Hampshire for reference in case there are regional differences in appraisal fees.

I have questions into the lender about this as well. But I'm curious what others think and how much I should push back on this. A 40-50% fee increase doesn't feel right.

And one more thing that just adds to my annoyance about this is that the appraisal is a joke in my opinion. The selling price for the house is $133k. The appraised value came in at $133k. Seems pretty obvious that the appraiser was working backwards from the number that they wanted to come in at. I have a slightly jaded view about appraisals in general and this just adds to my low opinion of them.