Why you should get an appraisal
Year after year, thousands of people in California purchase, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that might appear more cost-effective than an appraisal. You might think that getting a mortgage is the only reason you should get an appraisal, but there are additional cases when the services of a licensed, independent real estate professional might come in handy.
Contest your tax assessment in Riverside County
If you are in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, almost all lenders ask homeowners to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Young Real Estate Appraisals can give you a statement regarding the value of your home, and the expense of the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially daunting event for both parties, and it is often even more complicated by the troublesome decision of who keeps the home. It's a good idea to order an appraisal from Young Real Estate Appraisals so both parties are completely aware of the true market value of their home, regardless of the situation.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, 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 hard 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. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. 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 an honest deal.
Move to or from Riverside County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why 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, as well as information about any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at the right price
A professional appraisal can help you make a better educated decision when determining your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike 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 complete the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, obtaining a professional appraisal is a trusted 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.