Commercial Appraisal Cost

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Commercial MAI Appraisals will cost between $2-5,000 depending on the size of the subject property. I am posting to help investors avoid sticker shock when applying for a commercial or multifamily loans. The majority of commercial lenders, whether institutional or private, will require a lender ordered MAI appraisal as a financing contingency.

Some investors believe that appraisals cost between $5-700. This cost is typical for residential 1-4 unit appraisals and/or non-MAI commercial appraisals. The upfront costs needed to secure purchase financing (or refinancing) for a commercial property are $20-30 for a credit report and $2-5,000 for an appraisal. However, there are some lenders that will waive the appraisal fee for female investors and married couples that are taking financing in the wife's name.

[Cody DeLong]

The appraisal for my 11 unit here in Maine on a Commercial loan was only $1800.