Why you should hire an appraiser
To many, an appraisal just looks like another cost in the long list of items for a home purchase or refinance. Most lenders still need a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation methods that may seem cheaper than an appraisal. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are more instances when the services of a licensed, independent real estate professional could be helpful.
Appeal 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 declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At All City Appraisal, we're equipped to assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, almost all lenders ask home owners to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is lumped into the monthly mortgage payment and is quickly 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% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
All City Appraisal will produce a statement regarding the value of your home, and the cost of the appraisal can often 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 an especially daunting ordeal for the parties involved, and it is often more complicated by the challenging decision of who maintains the property. It's a good idea to order an appraisal from All City Appraisal so both parties are fully aware of the true market value of their house, regardless of the situation.
The parties will have a a good 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 received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Los Angeles County for work
We are familiar with the stress involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Sell your home promptly — at the right price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to decide what improvements will add value and what an applicable 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 are one the market.