Reasons to get an appraisal
To many, an appraisal just looks like a line item in the long list of items for a home sale or refinance. The majority of lenders still want a local expert because the stakes are so high, even though there are a budding number of automated home valuation methods that may seem more economical than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a licensed, independent real estate professional could be beneficial? Of course there are.
Appeal your tax assessment in Riverside County
If you are in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Good Appraisal Services, Inc. is your best evidence when building your case. We're equipped to assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Good Appraisal Services, Inc. will produce a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered in just a few months 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 keeps the house, and it can be a particularly traumatic occurrence for both parties. Regardless of the circumstances, 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.
The parties will have a clearer picture of what price to set, if they need 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 calls for an appraisal to establish Fair Market Value for the residential property involved. We guarantee 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 affairs, unlike wealthier individuals. A home or other property often makes up an uneven 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 leave knowing they've received an honest deal.
Relocate to or from Riverside County for work
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home quickly — for an accurate 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 asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a trusted way to decide 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.