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An appraisal is the findings based on a professional appraiser's thorough study of the subject property, its geographical area and economic trends. 

A professional appraiser produces an objective, well substantiated and cohesive opinion of the market value of a real estate transaction. Professional appraisals are recorded on official appraisal reports. 

An appraisal is not a home inspection and serves a different purpose. Home Inspections assess and investigate the structure of the home from rooftop to foundation. A home inspection will evaluate the individual components of the home such as air conditioning, electrical, plumbing and so much more. Home appraisals and home inspections are both critical components in any transaction because they give the buyer and lender an independent assessment of the home in terms of condition and value. 

• A comparative market analysis (CMA) is an estimate of a home's value based on recently sold, similar properties in the immediate area. Real estate agents and brokers create CMA reports to help sellers set listing prices for their homes and, less commonly, to help buyers make competitive offers.  
• Certified and California License Home Appraiser delivers defensible home value reports. 

• Data can be either Specific or General. Specific data is collected from the home itself, Location, condition, amenities, and size. The appraiser can gather more specific data onsite the day of the appraisal. 
• General data is gathered from research in recent sales “comps”, an appraiser will typically go to the local Multiple Listing Service (MLS) for “comps”. Tax records and other public documents reveal actual sales prices in a market. Appraisers additionally gather general information about the property like flood zones, unique slopes, and other general information that can affect the value of the property. 
• The appraisal professional also relies on experience and knowledge of the area and current market. 

Private mortgage insurance, also called PMI, is a type of mortgage insurance you might be required to pay for if you have a conventional loan. Like other kinds of mortgage insurance, PMI protects the lender—not you—if you stop making payments on your loan. 

• Think about what can increase curb appeal: Mowing the Lawn, de-weeding, cleaning the windows/awnings and anything else that will improve the exterior appearance 
• Locate documents, such as a title policy with information on encroachments or easements 
• “Homeowners Associations” agreements and fees associated with the house or condo 
• Itemized list of upgrades 
• Photocopies of permits / addition records / property history. 

In real estate appraising, Market Value is commonly defined as; “The most probable price (in terms of money) which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: the buyer and seller are typically motivated; both parties are well informed or well advised, and acting in what they consider their best interests; a reasonable time is allowed for exposure in the open market; payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto; and the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.” 

Yes, a lender orders an appraiser, but the buyer/seller ultimately pays the cost. A license professional appraiser is not hired by the lender, does not consult the lender for advice and uses impartial data to substantiate their findings. 

• “Date of Death Appraisal” (DOD) assesses the fair market value of the decedent’s real estate as of the date of his or her death.
• The Internal Revenue Service (IRS) lays out a list of requirements pertaining to deceased persons and their estates. These requirements need to be fulfilled by the surviving spouse, executor, estate administrator, or other legal representatives.
• If a DOD applies to you please let us know and we can provide you more detailed information.