Why you should hire an appraiser
Every year, thousands of people in California purchase, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. Most lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that might appear to be more practical than an appraisal. Is obtaining a mortgage the only basis for getting an appraisal? Are there other situations when the services of a licensed, independent real estate professional could be beneficial? Of course there are.
Contest your tax assessment in Los Angeles County
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your real estate, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from All City Appraisal is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask homeowners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI becomes unnecessary when the remainder 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 invoked by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, All City Appraisal will produce a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce can be an especially daunting event for both parties, and it is often further complicated by the burdensome decision of who keeps the property. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from All City Appraisal, regardless of the situation.
The parties will have a better idea of what price to set, if they want to sell the home. And on the flip side, 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
Losing 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 residential property involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many 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 an unequal share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Los Angeles County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any current sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — for an accurate price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, seeking 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.