Reasons to hire an appraiser
Every year, thousands of people in California buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. Most lenders still want a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that may appear more economical than an appraisal. You might believe that securing a mortgage is the only reason to get an appraisal, but there are more times when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment in Orange County
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your house, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that most lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. More often than not, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Premier Appraisal of SoCal can provide you with a statement regarding the value of your home. The cost of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be a particularly horrible experience for both parties, and it is often more complicated by the burdensome decision of who maintains the home. It's a good idea to order an appraisal from Premier Appraisal of SoCal so both parties are entirely aware of the true market value of their home, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Orange County for work
We are aware of the headaches associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input 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 thorough inspection.
Sell your home quickly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine what improvements will add value and what an applicable 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 houses stay on the market.