Why you should get an appraisal
To a lot of us, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. And while there are a budding number of automated home valuation methods that may appear to be more cost-effective than an appraisal, nearly all lenders still call for a local expert because the stakes are incredibly high. Is securing a mortgage the only reason to get an appraisal? Are there additional times when the services of a licensed, independent real estate professional could be beneficial? Of course there are.
Dispute your tax assessment in Orange County
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Premier Appraisal of SoCal, we're qualified to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, nearly all lenders ask buyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to do away with the PMI installments 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 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 fewer hang-ups
A divorce is a very traumatic event for the parties involved, and it is often even more complicated by the burdensome decision of who keeps the house. So both parties are fully aware of the true market value of their home, it's a good idea to order an appraisal from Premier Appraisal of SoCal, regardless of the circumstances.
If the parties want 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 received a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property 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 take care of these issues. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Orange County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 homes are one the market.