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Appraisal fee. Too high?

Started by dmasonmd
about 16 years ago
Posts: 27
Member since: May 2010
Discussion about
Wells Fargo wants $850 for an appraisal fee on a 1.2M purchase in Manhattan. I feel that is high. Thoughts?
Response by NYCrealist
about 16 years ago
Posts: 41
Member since: Jul 2010

I got quoted (by Wells Fargo) almost $1000 for a Brooklyn unit, that was much less.

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Response by gcondo
about 16 years ago
Posts: 1111
Member since: Feb 2009

schwab is doing my appraisal for 650, 1.4m est value

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Response by gcondo
about 16 years ago
Posts: 1111
Member since: Feb 2009

well I should say the guy they hired is doing it for that much

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Response by w67thstreet
about 16 years ago
Posts: 9003
Member since: Dec 2008

Just imagine when the mortgage bill comes, what will you guys do then?

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Response by lad
about 16 years ago
Posts: 707
Member since: Apr 2009

Wells Fargo was, by far, the highest on every closing cost among the lenders we compared.

Our appraisal fee from Bank of America was $535 for an $800k co-op.

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Response by gcondo
about 16 years ago
Posts: 1111
Member since: Feb 2009

I thought we didnt have to pay our mortgages anymore? please advise

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Response by ephraim2
about 16 years ago
Posts: 67
Member since: Jun 2009

Weird. I paid half that, also via WF.

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Response by dwell
about 16 years ago
Posts: 2341
Member since: Jul 2008

gcondo: charles schwab does mtgs? Good rate?

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Response by gcondo
about 16 years ago
Posts: 1111
Member since: Feb 2009

yes as good as anyone else. I have a new 7/1 i/o under 3.75, 30 year last week was 4.75 0pts

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Response by gcondo
about 16 years ago
Posts: 1111
Member since: Feb 2009

sry mistype, 7/1 @ 3.875 i/o 1/8pt

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Response by dwell
about 16 years ago
Posts: 2341
Member since: Jul 2008

Thanks gcondo. Amazing rates. Good luck.

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