Why you should order an appraisal
Each year, thousands of people in California buy, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. While there are a growing number of automated home valuation methods that might appear less expensive than an appraisal, almost all lenders still call in a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there additional cases when the services of a certified, independent real estate professional could come in handy? Of course.
Contest your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Abandy & Associates Appraisal Services, we're equipped to assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, most lenders ask homebuyers to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Abandy & Associates Appraisal Services can provide you with a statement regarding the value of your home. The price you paid for the appraisal can generally be regained in a short amount of time because you'll no longer be paying the PMI.
Order your appraisal from Abandy & Associates Appraisal Services todayOrder today
Settle a divorce with less stress
A divorce is a very daunting event for the parties involved, and it is often further complicated by the burdensome decision of who gets the home. It's a good idea to get an appraisal from Abandy & Associates Appraisal Services so both parties are entirely aware of the true market value of their house, regardless of the situation.
The parties will have a good idea of what price to set, if they want to sell the home. And 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 requires 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 fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing 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.
Move to or from San Bernardino County for work
We understand the headaches involved with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any new sales or listings in their area that they want considered during our thorough inspection.
Close on your home promptly — for the right price
A professional appraisal can help you make a better educated decision regarding your asking price, whether you decide to sell your home on your own or with the help 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 complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking 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 homes stay on the market.