Elite Property Appraisals in Hermosa Beach are called upon for diverse clientsTo many, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. Most lenders still want a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation methods that may appear to be less expensive than an appraisal. But is securing a mortgage the only basis for getting an appraisal? Are there additional instances when the services of a licensed, independent real estate professional could be beneficial? Of course there are.
Challenge your tax assessment in Los Angeles CountyIt's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a past assessment of your home, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Elite Property Appraisals is your best evidence when building your case. At Elite Property Appraisals, we're equipped to assist you in challenging your tax assessment.
PMI removal to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an extra insurance policy that many lenders ask home owners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the home. More often than not, this added payment is folded into the monthly mortgage payment and is promptly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with the PMI payments when the balance is paid down to 78% of the original value.
Elite Property Appraisals can produce a statement regarding the value of your home, and the expense of the appraisal can usually be offset in a short amount of time because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce can be a very daunting event for both parties, and it is often further complicated by the strenuous decision of who keeps the property. It's a good idea to get an appraisal from Elite Property Appraisals so both parties are completely aware of the true market value of their property, regardless of the circumstances.
The parties will have a a good idea 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 gotten a fair assessment.
Accurate and fair estate liquidationThe loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Market Value for the residential property involved. We guarantee the highest 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 handle these matters, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Let Elite Property Appraisals assist you in relocating to or from Los Angeles CountyEmployee relocation is 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 detailed process, we suggest relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered.
Selling your home quickly at the right priceWhether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, which is different than the interest of real estate agents. Our fees depend on our efforts to perform the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to decide what improvements will add value and what an applicable 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.