Who Usually Pays For An Appraisal In Orlando?

In most financed real estate transactions in Orlando, the buyer is typically responsible for paying for the home appraisal. While the lender orders the service to verify the property's value against the loan amount, the cost is passed on to the borrower as part of their closing costs or as an upfront fee. Typical Payment Scenarios In a standard home purchase, payment is usually required upfront after the buyer locks in their interest rate but before the closing date. In some instances, lenders may allow the fee to be credited at closing, though most require payment in advance to ensure the appraiser is compensated regardless of whether the deal closes. Situation Primary Payer Purpose Financed Home Purchase Buyer Mortgage approval and collateral verification Mortgage Refinancing Homeowner Verifying current equity for new loan terms Pre-listing Evaluation Seller Setting an accurate asking price before listing Insurance Dispute Policyholder & Insurer Resolving claims; each party pays their own appraiser Exceptions and Negotiations While buyers usually cover the cost, there are specific scenarios where the seller may pay for the appraisal: Seller Concessions: To attract buyers or finalize a deal, a seller might offer a credit to cover the appraisal fee as part of the closing incentives. Low Appraisals: If an initial appraisal comes in below the purchase price, a seller may pay for a second appraisal to challenge the first valuation and keep the sale on track. New Construction: Builders in the Orlando area sometimes include the appraisal fee as a perk for using their preferred lender.