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Level 1

Real Estate Appraisal

How should a payment for real estate appraisal be recorded on the books?

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Level 7

Real Estate Appraisal

Depends.  Are you having the appraisal done because you are selling or just to learn the value of your property.  If selling, this would be a cost of sale and would be figured in on profit once the property is sold.  I would suggest that you set up an other expense account to track sales cost if this is the case.  When the property is sold, you zero the sales costs out to come to you net profit on the sale.

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