Why you should hire an appraiser
To many, an appraisal just looks like another fee in the long list of items for a home purchase or refinance. And even though there are an increasing number of automated home valuation systems that may appear to be less expensive than an appraisal, practically all lenders still need a local expert because the stakes are very high. You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are more situations when the services of a licensed, independent real estate professional could be helpful.
Challenge your tax assessment in Orange County
If you reside in an area where the property value 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. At Premier Appraisal of SoCal, we're equipped to assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, almost all lenders ask homeowners to take out this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Premier Appraisal of SoCal can give you a statement regarding the value of your home, and the cost of the home valuation can generally 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 is an especially horrible experience for the parties involved, and it is often further complicated by the strenuous decision of who gets the property. Regardless of the situation, it's a good idea to order an appraisal from Premier Appraisal of SoCal so both parties are completely aware of the true market value of their property.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The death 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. We ensure the utmost 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 manage these matters, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Orange County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in establishing 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 regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — for the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long houses stay on the market.