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The Home Buying Process Step 12: Lender’s Appraisal

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Your mortgage lender will order an appraisal of the property you are purchasing as part of the loan approval process.  The mortgage lender controls the selection of the appriaser.  The appraiser is not selected by either the buyer, or the seller, or the real estate agents.

The appraiser’s job is to determine the fair market value of the property you are purchasing, and thus make sure you are not paying more for the property than it is worth.

The appraiser will review local market conditions, and review individual nearby properties that have recently sold; comparing each property feature by feature to the subject property that is being appraised.

The appraisal will review the subject property inside and out, and will make note of any flaw that makes the property less marketable or less desirable, and factor that into his or her opinion of the property’s value.

However, please remember that the appraiser is not a substitute for a complete physical inspection.

Would you like to know more?  Call Bob Taylor Properties at 323-257-1080 or email at [email protected]

NELA Homes

The Real Estate HomeBuyer's Guide

  • The Real Estate HomeBuyer’s Guide
  • Buying a Home: How We Can Help
  • The Home Buying Process Step 1: The Loan Prequalification and Loan Preapproval
  • The Home Buying Process Step 2: Beginning Your Home Search
  • The Home Buying Process Step 3: Make A Purchase Offer
  • The Home Buying Process Step 4: Your Earnest Money Deposit
  • The Home Buying Process Step 5: Multiple Offers
  • The Home Buying Process Step 6: Counter Offers and Offer Acceptance
  • The Home Buying Process Step 7: Open Escrow
  • The Home Buying Process Step 8: Title Insurance
  • The Home Buying Process Step 9: Review Seller’s Disclosures
  • The Home Buying Process Step 10: Physical Home Inspection
  • The Home Buying Process Step 11: The Loan Processing Process
  • The Home Buying Process Step 12: Lender’s Appraisal
  • The Home Buying Process Step 13: Final Walk Through
  • The Home Buying Process Step 14: Sign Loan Documents
  • The Home Buying Process Step 15: Funding the Buyer’s Loan
  • The Home Buying Process Step 16: Close Escrow
  • Understanding the Escrow Closing Process
  • What is a Mortgage?
  • What is a Contingency?
  • What is Escrow?
  • Why Work with a Buyer’s Agent at Bob Taylor Properties?
  • We Understand Financing
  • We Understand Los Angeles Rental Property
  • We Understand Short Sales

Real Estate Homebuyers Guide

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    Ann Stalwick is a highly experienced and dedicated real estate agent who loves her career and works tirelessly for her clients. Ann is associated with NELA Homes, a family run real estate and development company originally founded in Northeast Los Angeles (NELA) with over 30 years of experience connecting homebuyers and sellers thoughout Southern California.

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    Ann Stalwick
    Cheryl Johnson
    NELA Homes, Inc.
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    Cheryl (assistant and
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    323-369-4969
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