Reasons to hire an appraiser
To a lot of people, an appraisal is simply a line item on the settlement sheet for a mortgage or refinance. While there are a multiplying number of automated home valuation methods that may seem more economical than an appraisal, practically all lenders still want a local expert because the stakes are incredibly high. You might believe that obtaining a mortgage is the only basis for getting an appraisal, but there are more cases when the services of a certified, independent real estate professional could be helpful.
Appeal your tax assessment
It's quite possible 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 past assessment of your house, so if values are less than what they used to be in your area, 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.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
All City Appraisal will provide you with a statement regarding the value of your home, and the expense of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the difficult decision of who gets the home, and it can be a particularly horrible ordeal for both parties. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from All City Appraisal, regardless of the situation.
The parties will have a clearer picture of what price to set, if they want 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
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails 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.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Los Angeles County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, as well as information about any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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, because we're experts in knowing how long properties are one the market.