Reasons to order an appraisal
Year after year, thousands of people in California buy, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. And while there are a budding number of automated home valuation methods that may seem cheaper than an appraisal, most lenders still call for a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a certified, independent real estate professional might be beneficial.
Appeal your tax assessment
If you are in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from Collard Appraisal Group is your best evidence when building your case. We can 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 home owners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. This extra payment is often lumped 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 - decreases below the 80% level, 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.
Collard Appraisal Group will provide you with a statement regarding the value of your home, and the price you paid for 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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Settle a divorce with less stress
A divorce is often complicated by the difficult decision of who gets the home, and it can be an especially traumatic event for both parties. So both parties are entirely aware of the true market value of their house, it's a good idea to get an appraisal from Collard Appraisal Group, 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 assessment.
Determine a fair and accurate valuation for estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike many wealthy individuals. 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 essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Los Angeles County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.
Sell your home promptly — at an accurate price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Unlike 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 are based on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable 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 homes stay on the market.