Reasons to order an appraisal from Premier Appraisal of SoCal
To a lot of us, an appraisal just looks like one more thing on the break-sheet for a home sale or refinance. Even though there are a multiplying number of automated home valuation systems that may seem more practical than an appraisal, most lenders still call for a local expert because the stakes are very high. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a certified, independent real estate professional could be helpful? Of course there are.
Dispute your tax assessment
If you reside in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Premier Appraisal of SoCal is your best evidence when building your case. At Premier Appraisal of SoCal, we're equipped to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask homeowners to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is lumped into the monthly mortgage payment and is promptly forgotten. This is bad because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Premier Appraisal of SoCal will produce a statement regarding the value of your home. The expense of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the challenging decision of who gets the home, and it can be a very daunting experience for both parties. It's a good idea to order an appraisal from Premier Appraisal of SoCal so both parties are fully aware of the true market value of their house, regardless of the situation.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these matters. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Orange County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — at the right price
A professional appraisal can help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time, because we're experts in knowing how long properties are one the market.