Let’s dive into the California home appraisal process. When you’re buying, refinancing, or selling a home in California, an appraisal is essential. Here’s how it typically unfolds:

1. Lender Orders Appraisal: Once the buyer’s offer is accepted and the purchase agreement is signed, the lender initiates the appraisal process. They want to determine the property’s market value.
2. Appraiser Visits the Home: An appraiser conducts an on-site inspection of the property. During this visit (usually lasting 20–45 minutes), the appraiser takes photos, assesses the home’s condition, and compares it to recently sold properties in the area. Factors like size, floor plan, amenities, neighborhood characteristics, and current market conditions are considered.
3. Market Analysis: The appraiser reviews public records to assess the value of similar properties. For instance, if a large 4-bedroom home is in an area where mostly 3-bedroom homes have recently sold, its value will reflect that difference.
4. Appraisal Report: The appraiser compiles all findings into a detailed report. This report includes the final determination of the property’s value. It’s then sent to the mortgage lender for review and underwriting. If the appraised value aligns with the agreed-upon purchase price, the loan proceeds. Otherwise, adjustments may be needed.

Remember, the timeframe for the appraisal process can vary (typically five days to two weeks) based on factors like home size, comparable sales data availability, and the appraiser’s workload1. Feel free to ask if you have any more questions!