Reasons to order an appraisal
Each year, thousands of people in California buy, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. And even though there are a growing number of automated home valuation systems that may appear to be less expensive than an appraisal, most lenders still call in a local expert because the stakes are very high. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are additional cases when the services of a licensed, independent real estate professional might be helpful.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your home, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask home owners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the home. Very often, this extra payment is folded into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Good Appraisal Services, Inc. can produce a statement regarding the value of your home, and the cost of the appraisal can often be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is a particularly daunting ordeal for the parties involved, and it is often more complicated by the hard decision of who maintains the property. It's a good idea to order an appraisal from Good Appraisal Services, Inc. so both parties are completely aware of the true market value of their property, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they need 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 evaluation.
Fair and accurate estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the maximum 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 take care of these matters, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Riverside 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. 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 neighborhood that they want considered during our thorough inspection.
Close on your home quickly — for the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding 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 related to 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 homesstay on the market. So, obtaining a professional appraisal is a trusted way to decide 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.