Appraisal fee

What does Appraisal fee mean in American Law?

The definition of Appraisal fee in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

A fee paid by a prospective borrower to have an appraisal made of property he offers for collateral to secure his loan. As with an application fee, the appraisal fee may be treated as part of the interest on the loan for purposes of the applicable usury statute.

Concept of Appraisal Fee in the context of Real Property

A short definition of Appraisal Fee: The amount of money charged by an appraiser. There is no set amount since the work necessary varies with each property.

Concept of Appraisal Fee in the context of Real Property

A short definition of Appraisal Fee: The amount of money charged by an appraiser. There is no set amount since the work necessary varies with each property.