Reasons to order an appraisal from All City Appraisal
To a lot of us, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. Most lenders still need a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that might seem cheaper than an appraisal. You might assume that getting a mortgage is the only basis for getting an appraisal, but there are other times when the services of a licensed, independent real estate professional could come in handy.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, nearly all lenders ask homeowners to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked 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.
All City Appraisal can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can generally 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 burdensome decision of who gets the house, and it can be a particularly daunting ordeal for both parties. Regardless of the situation, 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.
The parties will have a a good idea of what price to set, if they wish 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.
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 calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. 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 essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Los Angeles County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — for the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long properties are one the market.