Let Bowers Real Estate & Appraisal Services attend to your appraisal needs
Thousands of people in California purchase, sell or refinance their home each month. Most of these transactions include a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are very high, even though there are a developing number of automated home valuation methods that may appear more prudent than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there other cases when the services of a certified, independent real estate professional could be beneficial? Absolutely.
Appeal your tax assessment
It's likely 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 house, so if prices have declined in your area, you can challenge your assessment and save money. An appraisal from Bowers Real Estate & Appraisal Services is your best evidence when building your case. We can assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that most lenders ask homeowners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Bowers Real Estate & Appraisal Services can provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the challenging decision of who maintains the property, and it can be a particularly traumatic occurrence for both parties. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from Bowers Real Estate & Appraisal Services, regardless of the circumstances.
If the parties need to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair 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 take care of these matters, unlike many wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Los Angeles County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
Whether 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 more informed decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete 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. Obtaining a professional appraisal is a trusted way to decide 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 properties are one the market.