6 Reasons to order an appraisal from Premier Appraisal of SoCal
To many, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. Practically all lenders still need a local expert because the stakes are very high, even though there are a developing number of automated home valuation systems that might appear more practical than an appraisal. You might think that getting a mortgage is the only reason you should get an appraisal, but there are additional cases when the services of a licensed, independent real estate professional might be helpful.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Premier Appraisal of SoCal, we're capable of assisting you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask homebuyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Most often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Premier Appraisal of SoCal will give you a statement regarding the value of your home. The price you paid for the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be a particularly daunting ordeal for both parties, and it is often more complicated by the burdensome decision of who gets the property. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Premier Appraisal of SoCal, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Orange County through an employee relocation program
We understand the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — for the right price
A professional appraisal can help you make a better educated decision regarding your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, seeking a professional appraisal is a reliable way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.