Reasons to get an appraisal from Collard Appraisal Group
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. While there are a developing number of automated home valuation processes that may appear less expensive than an appraisal, almost all lenders still call for a local expert because the stakes are so high. You might think that securing a mortgage is the only reason to get an appraisal, but there are other times when the services of a certified, independent real estate professional might come in handy.
Challenge your tax assessment in Los Angeles County
If you reside in an area where the property value has 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. At Collard Appraisal Group, we're qualified to assist you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, nearly all lenders ask buyers to take out this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Most often, this additional payment is lumped into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Collard Appraisal Group can produce a statement regarding the value of your home. The cost of the home valuation can usually be offset 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 an especially traumatic ordeal for the parties involved, and it is often further complicated by the challenging decision of who keeps the home. Regardless of the circumstances, it's a good idea to get an appraisal from Collard Appraisal Group so both parties are fully aware of the true market value of their property.
The parties will have a better idea 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 received a fair evaluation.
Fair and accurate estate liquidation
Losing 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 guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of significant 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 being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive features of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Sell your home promptly — at the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you choose 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 price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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, because we're experts in knowing how long homes stay on the market.