Let Premier Appraisal of SoCal handle your appraisal needs
Thousands of people in California purchase, sell or refinance their home each year. A lot of these transactions involve a simple line item for an appraisal. And even though there are a growing number of automated home valuation methods that may appear more economical than an appraisal, the majority of lenders still call in a local expert because the stakes are so high. You might think that obtaining a mortgage is the only reason to acquire an appraisal, but there are additional cases when the services of a certified, independent real estate professional might come in handy.
Contest your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your home, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from Premier Appraisal of SoCal is your best evidence when building your case. At Premier Appraisal of SoCal, we're qualified to assist you in challenging 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 property, almost all lenders ask homeowners to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this extra payment is folded into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Premier Appraisal of SoCal can provide you with a statement regarding the value of your home. The cost of the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is an especially horrible event for the parties involved, and it is often even more complicated by the strenuous decision of who gets the home. 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 property, regardless of the situation.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
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 requires 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, guaranteeing the highest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Orange County through an employee relocation program
We are aware of the stress associated with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any recent sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — at an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
We examine 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 housesstay on the market. So, getting 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.