Reasons to get an appraisal from Collard Appraisal Group
To a lot of us, an appraisal is simply another cost in the long list of items for a home purchase or refinance. And while there are an increasing number of automated home valuation processes that may seem more cost-effective than an appraisal, the majority of lenders still call in a local expert because the stakes are very high. Is securing a mortgage the only basis for getting an appraisal? Are there additional situations when the services of a licensed, independent real estate professional might come in handy? You bet.
Contest your tax assessment
If you reside in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Collard Appraisal Group, we're equipped to assist you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, many lenders ask home owners to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is no longer required when the remainder 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 implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Collard Appraisal Group will provide you with a statement regarding the value of your home. The cost of the appraisal can generally 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 fewer hang-ups
A divorce is often complicated by the difficult decision of who maintains the house, and it can be an especially horrible event for both parties. So both parties are completely 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 need 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.
Ascertain an accurate and fair valuation for estate liquidation
The loss of 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 residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Los Angeles County for work
Employee relocation can be a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — for the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you want 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 are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, 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.