Reasons to get an appraisal from The Appraisal Service
To many, an appraisal is simply a line item on the break-sheet for a mortgage or refinance. And while there are a multiplying number of automated home valuation methods that might seem more cost-effective than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. Is obtaining a mortgage the only reason you should get an appraisal? Are there other cases when the services of a licensed, independent real estate professional could be helpful? Of course.
Contest your tax assessment
If you are in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from The Appraisal Service is your best evidence when building your case. We can assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, almost all lenders ask homeowners to take out this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, The Appraisal Service can give you a statement regarding the value of your home. The price you paid for 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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Settle a divorce with less stress
A divorce can be an especially daunting experience for both parties, and it is often more complicated by the difficult decision of who maintains the home. It's a good idea to get an appraisal from The Appraisal Service so both parties are entirely aware of the true market value of their home, regardless of the situation.
The parties will have a good idea of what price to set, if they wish to sell the home. 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
The loss 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. 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 vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from San Diego County for work
We understand the headaches 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 feedback on the positive aspects of their property, along with information regarding any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — at an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. Apart from 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 depend on our efforts to complete the appraisal report.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a trusted 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.