Why you should get an appraisal from All City Appraisal
To a lot of people, an appraisal is simply another fee on the settlement sheet for a home sale or refinance. Almost all lenders still need a local expert because the stakes are so high, even though there are a developing number of automated home valuation systems that may appear more cost-effective than an appraisal. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are other cases when the services of a licensed, independent real estate professional could be beneficial.
Contest your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a previous assessment of your house, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from All City Appraisal is your best evidence when building your case. At All City Appraisal, we're qualified to assist you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, nearly all lenders ask home buyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, All City Appraisal will produce a statement regarding the value of your home. The price you paid for the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
Get your appraisal from All City AppraisalOrder today
Settle a divorce with fewer hang-ups
A divorce is a very daunting experience for the parties involved, and it is often more complicated by the burdensome decision of who keeps the house. It's a good idea to get an appraisal from All City Appraisal so both parties are completely aware of the true market value of their property, regardless of the situation.
The parties will have a clearer picture 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 received a fair assessment.
Accurate and fair estate liquidation
The death of 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth 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 Los Angeles County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide input on the positive aspects of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — for an accurate 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 better educated decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable way to determine 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 homes stay on the market.