Our services

Pier to Pier Brokers offers a full suite of professional residential appriasal services including valuations of: 

• Architectural properties
• Single family homes
• Estate pricing
• Town homes and condos
• Luxury ocean front properties
• 1 to 4 unit residential income properties
• Bank owned properties
• Real estate located in the South Bay of Los Angeles

The appraisal process

1. Research the subject property as to size, bedrooms, baths, year built, lot size and square footage.

2. Gather data of recent sales in the subject neighborhood. The appraiser needs to locate
at least three and preferably more, similar-sized homes which have sold within the past 6 months. These homes are considered the comparable properties (also known as the comps.)

3. Field inspection consists of two parts: First, the inspection of the subject property. Second, the exterior inspection of the comparable properties which have been selected to estimate the value of the subject property.

The subject inspection consists of taking photos of the street scene, front of the home and rear of the home, which may include portions of the yard. The appraiser will make an interior inspection for condition, noting any items that would detract from or add to the value of the home. He will also draw a floor plan of the home while doing the inspection.

The inspection of the comparable properties is limited to an exterior inspection. For features that cannot be seen from the street, the ap- praiser has reports from Multiple Listing Services (MLS), California market Data Cooperative (CMDC), county public records, and appraisal files along with other sources to help determine the condition and amenities of the comparables. After the field inspection has been completed the appraiser must determine which comparable properties most resemble the subject, making slight adjustments to the estimated value. This method of estimating value is called the Direct Sales Comparison Approach to Value, and it accounts for nearly all of the considerations in determining value of a single family home.

Because banks and lenders determine their final loan approval based on the appraisal, it’s important that the accepted offer and final appraisal match. If the appraisal is lower than the accepted offer the buyer will be asked to add additional funds to the transaction to balance out the ineq- uity or, the buyer can cancel the contract and not buy the property.