Reasons to order an appraisal
Year after year, thousands of people in California buy, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. Even though there are an increasing number of automated home valuation processes that might seem cheaper than an appraisal, nearly all lenders still call in a local expert because the stakes are incredibly high. Is obtaining a mortgage the only basis for getting an appraisal? Are there also cases when the services of a certified, independent real estate professional might be helpful? Of course there are.
Contest your tax assessment
If you live in an area where the value of property has declined, 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're equipped to assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, nearly all lenders ask home buyers to take out this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is folded into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
The Appraisal Service can produce a statement regarding the value of your home, and the expense of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is often complicated by the difficult decision of who gets the home, and it can be a particularly horrible experience for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from The Appraisal Service, regardless of the circumstances.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. And since 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 essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from San Diego County through an employee relocation program
We know the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive features of their property, as well as 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 will help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount 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 complete the appraisal report.
We examine 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 homesstay on the market. So, obtaining a professional appraisal is a trusted way to determine 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.