Why you should order an appraisal
To a lot of us, an appraisal just looks like a line item on the break-sheet for a home purchase or refinance. The majority of lenders still need a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation methods that might appear cheaper than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there also instances when the services of a certified, independent real estate professional could be helpful? Absolutely.
Contest your tax assessment
If you live in an area where the value of property has declined, 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. We can assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, nearly all lenders ask home buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is folded into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Premier Appraisal of SoCal will produce a statement regarding the value of your home, and the expense of the appraisal can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a particularly traumatic ordeal for both parties, and it is often further complicated by the strenuous decision of who keeps 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 situation.
If the parties need to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine a fair and accurate valuation for estate liquidation
Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike wealthier individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move 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 setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted 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 are one the market.