6 Reasons you should order an appraisal from All City Appraisal
Each year, thousands of people in California purchase, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. Nearly all lenders still call in a local expert because the stakes are very high, even though there are a developing number of automated home valuation systems that may seem cheaper than an appraisal. You might think that getting a mortgage is the only reason to get an appraisal, but there are other times when the services of a certified, independent real estate professional might be helpful.
Contest your tax assessment
If you reside 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. We can assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, nearly all lenders ask homebuyers to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, All City Appraisal can provide you with a statement regarding the value of your home. The expense 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 often complicated by the challenging decision of who maintains the home, and it can be an especially daunting experience for both parties. It's a good idea to get an appraisal from All City Appraisal so both parties are fully 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 evaluation.
Accurate and fair estate liquidation
The death of a loved one is a painful 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 ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Los Angeles County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information about any current sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for the right price
Whether you want 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. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a trusted 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.