Reasons to order an appraisal
To a lot of people, an appraisal just looks like one more thing on the break-sheet for a mortgage or refinance. And while there are a budding number of automated home valuation methods that might appear more prudent than an appraisal, the majority of lenders still need a local expert because the stakes are very high. Is obtaining a mortgage the only reason to get an appraisal? Are there also instances when the services of a licensed, independent real estate professional could come in handy? Of course.
Challenge your tax assessment
If you are in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Young Real Estate Appraisals is your best evidence when building your case. We can assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Very often, this additional payment is bundled into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove 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 price you paid for the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.
Order an appraisal from Young Real Estate AppraisalsOrder today
Get a fair valuation on a home for divorce settlements
A divorce can be a very traumatic ordeal for both parties, and it is often more complicated by the strenuous decision of who gets the house. 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 circumstances.
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.
Accurate and fair estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for 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 maximum degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Riverside County for work
We know the stress involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive aspects of their property, as well as information about any recent sales or listings in their area that they want considered.
Close on your home promptly — for the right price
A professional appraisal will help you make a more informed decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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 properties stay on the market.