Welcome to Appraising L.A.! Purchasing a home is one of the most significant investments that the average person might consider during his lifetime and isn’t to be taken lightly. Whether it’s the desire to settle down and raise a family or simply own a seasonal vacation home, the factors that drive purchasing a home are unique but the process is the same. And no matter the justification, buying a piece of property is a complex financial transaction that requires multiple people working together in cohesion.
Many of these people are familiar to us. Take for example the real estate agent. Remember those people you see plastered on bus benches across the city? They actually serve a purpose, and an important one at that. Real estate agents are responsible for representing the home owner and getting them the best deal possible on their individual piece of property. Another entity involved is the lender. Lenders provide the financial capital necessary for the purchase and come in many different shapes andsizes. Finally, making sure that all facets of the transaction run smoothly is the title company- charged with successfully transitioning the property from the seller to the buyer.
But where do all the prices come from? What happens when the seller only wants to sell for $2 million but the buyer thinks the property is worth $500,000? That’s where the Los Angeles home appraiser comes in- providing an unbiased estimate of the property’s worth on a parcel of real estate, for which the buyer and the seller are both informed parties.
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