Reasons to order an appraisal from The Appraisal Firm
To many, an appraisal is simply a line item in the long list of items for a mortgage or refinance. Most lenders still call for a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation systems that might seem more prudent than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there also times when the services of a certified, independent real estate professional might be beneficial? Of course.
Contest your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from The Appraisal Firm is your best evidence when building your case. We're equipped to assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that nearly all lenders ask buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. Very often, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. This is bad because PMI isn't 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 passed by the United States Congress requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
The Appraisal Firm can give you a statement regarding the value of your home, and the expense of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a particularly horrible experience for the parties involved, and it is often more complicated by the burdensome decision of who keeps the property. Regardless of the situation, it's a good idea to order an appraisal from The Appraisal Firm so both parties are fully aware of the true market value of their house.
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 received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The death 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, ensuring the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike many wealthy 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 essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from San Diego County through an employee relocation program
We understand the headaches involved with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive characteristics of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — for the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated 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 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. Getting a professional appraisal is a reliable way to determine 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 properties stay on the market.