Why you should get an appraisal from Diversified Appraisal Services
Thousands of people in California purchase, sell or refinance their home each year. Many of these transactions include a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that might appear to be more economical than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there also situations when the services of a licensed, independent real estate professional might come in handy? Absolutely.
Challenge your tax assessment
It's 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 real estate, 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 Diversified Appraisal Services, we're capable of assisting you in disputing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Diversified Appraisal Services can give you a statement regarding the value of your home, and the expense of the home valuation can usually be regained in just a few months 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 challenging decision of who keeps the property, and it can be an especially horrible occurrence 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 Diversified Appraisal Services, regardless of the situation.
The parties will have a a good 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 gotten a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The death 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from San Luis Obispo County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home quickly — for the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to determine what improvements will add value and what an appropriate 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 houses stay on the market.
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