Reasons to order an appraisal from Premier Appraisal of SoCal
To many, an appraisal just looks like another cost in the long list of items for a home purchase or refinance. And even though there are a budding number of automated home valuation methods that may appear cheaper than an appraisal, most lenders still call in a local expert because the stakes are very high. You might assume that getting a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a licensed, independent real estate professional could come in handy.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a past assessment of your house, so if prices 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 capable of assisting you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, almost all lenders ask buyers to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Premier Appraisal of SoCal will give you a statement regarding the value of your home, and the cost of the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the burdensome decision of who maintains the house, and it can be a particularly horrible ordeal 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 better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the fullest 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 take care of these affairs, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Orange County for work
We are aware of the stress associated with an employee relocation. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide input on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Sell your home quickly — at an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items 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 homes stay on the market.