Who pays for the appraisal and title work?
The borrower pays both, which is standard across land lending. The appraisal is paid up front when ordered; title fees are paid at closing out of proceeds. Both are third-party costs that pass through at invoice — the lender does not mark them up.
Rural appraisals cost more than house appraisals because they take real fieldwork — expect a quote before you commit, and expect complexity to drive it: a bare 80-acre parcel is straightforward, while a vineyard with improvements or a multi-parcel assembly takes more appraiser hours. The fee is due at order because the appraiser is paid regardless of whether the loan closes.
Title costs scale mostly with loan size, since the lender's title insurance premium is calculated on the insured amount, plus search, escrow, and recording fees set by the county. On a purchase, some states customarily split title costs with the seller — your contract controls, so check it before assuming.
The appraisal fee is the only meaningful money at risk before closing. Application and term sheet cost nothing; if you walk away after the appraisal is done, that fee is spent but you keep the report. Sensible borrowers treat it as the price of certainty on value.
The Turnrow angle
Turnrow's term sheet itemizes expected third-party costs before you commit a dollar, so the appraisal invoice is never a surprise.
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