Appraisal service
Residential Appraisal in Los Angeles
Randy M. Sonns prepares a residential appraisal in Los Angeles for owners, buyers and sellers who need a written market value of a home for a stated purpose. Whether you are selling, buying, refinancing or settling a private matter, the report states the value and the date it applies to.
Who it helps
Who needs a residential appraisal
Most requests fall into a few situations:
Selling
and wanting a documented value before choosing a price.
Buying
and wanting a second opinion on what the home is worth.
Refinancing or borrowing against a home
when the purpose is stated and the value is needed.
Settling a private matter
such as a family agreement about a shared property.
If you need a lender-ordered appraisal, say so when you call, because the engagement and who may rely on the report then follow the lender's instructions.
At a glance
What the appraisal includes
| Element | What it states |
|---|---|
| Property types | Single-family homes, two to four unit residences, custom-built homes, luxury estates and new construction |
| On-site inspection | Condition, upgrades, layout and site |
| Market research | Recent comparable sales and local trends |
| Written report | The value, the date and the intended use |
Every property is different, so the approach follows its features, location and market influences. Randy's residential page states that he handles each appraisal himself rather than passing it to a management company.
How it works
How the process works
The steps are published on Randy's own page, and each has a practical meaning for you. At the consultation you describe the purpose and arrange the visit. During the property inspection he looks at the home's condition, upgrades, layout and site. In the market analysis he reviews recent comparable sales and current trends. He then prepares the valuation report, and delivery and review follows, with the report sent electronically so you can read it and ask questions. For more detail, read how a home appraisal works.
How it works
How a value is built
An appraiser compares your home with similar homes that sold recently and adjusts for the differences. Location, size, condition, features and the date of the sale all matter, and the adjustments should rest on what buyers actually paid for those differences.
Mortgage programs add their own reporting rules, and it helps to know what they are. The Fannie Mae Selling Guide, which governs loans sold to Fannie Mae, requires at least three closed comparable sales, asks for sales closed within the last 12 months where possible, and expects the report to name the data source of each sale. Those are mortgage-program requirements, not rules for every appraisal, and they do not mean every assignment is a Fannie Mae appraisal. They do show the kind of evidence worth expecting in any careful report. See how appraisers determine home value for the longer explanation.
Overview
What a residential report states
Every residential report names the property, the purpose, the date the value applies to and the people who may rely on it. It shows the comparable sales that support the value and explains how differences in size, condition and location were weighed. Reading those pages is how you judge the value, so ask Randy to walk you through anything unclear. If a lender, buyer or attorney will rely on the report, name them when you request it so the intended users are stated correctly from the start.
What is the difference between a licensed and a certified residential appraiser?
They are different California license classes with different scopes of practice set by the state. A Certified Residential license covers one-to-four unit residential property and non-residential property up to a stated value. The verification guide explains the classes and how to check an appraiser on the state record.
Does an appraisal include an inspection?
In Randy's published process, yes: the on-site inspection of condition, upgrades, layout and site is the second step. Some mortgage programs allow other scopes, such as Fannie Mae's desktop appraisal, which does not require an in-person inspection, so ask what scope your residential appraisal needs.
What should I prepare?
Make every area accessible, prepare a dated list of improvements and repairs, and gather any documents that describe the property. Tell Randy who will rely on the residential appraisal, because that determines the intended users in the report. If something is missing, tell Randy early; he judges whether the information is adequate and reliable for the intended use and scope.
How much does an appraisal cost?
Cost depends on the property and the purpose, so Randy quotes it when you describe the home. Ask what the fee includes, who receives the report and when it will be delivered before you order the residential appraisal. The guide on what goes into the cost of an appraisal lists the factors.
Do you do lender-ordered appraisals?
A lender may set its own requirements for the appraiser and the report, and some eligible loans use value acceptance instead of an appraisal. If a lender is involved in your residential appraisal, tell Randy the lender's name and requirements when you call, and ask before ordering.
What property types do you appraise?
Single-family homes, two to four unit residences, custom-built homes, luxury estates and new construction, as Randy's residential page lists them. Land, mobile homes and commercial property are separate questions, so ask before ordering a residential appraisal for those, and describe the property and its purpose.
Next step
Get a residential appraisal quote
Get a Residential Appraisal Quote and tell Randy the address and the purpose. Call (310) 429-3569 Monday to Saturday, 9am to 6pm.
Monday to Saturday, 9am to 6pm. Closed on Sunday.
Sources7 sources
- Fannie Mae Selling Guide: Comparable Sales
- Fannie Mae Selling Guide: Sales Comparison Approach
- California Bureau of Real Estate Appraisers license search
- Appraisal Subcommittee national registry record
- California Bureau of Real Estate Appraisers: Certified Residential requirements and scope
- license levels
- Fannie Mae Selling Guide: Desktop Appraisals