Why you should get an appraisal from Bowers Real Estate & Appraisal Services
Thousands of people in California purchase, sell or refinance their home every year. Many of these transactions contain a simple line item for an appraisal. Even though there are a developing number of automated home valuation processes that may appear more cost-effective than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a certified, independent real estate professional might be helpful.
Contest your tax assessment in Los Angeles County
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if prices have gone down in your neighborhood, 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're qualified to assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, nearly all lenders ask home buyers to take out this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Bowers Real Estate & Appraisal Services can produce a statement regarding the value of your home. The price you paid for 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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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is a very daunting event for the parties involved, and it is often more complicated by the challenging decision of who keeps the property. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from Bowers Real Estate & Appraisal Services, regardless of the situation.
If the parties need to sell the home, they'll have a better 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 assessment.
Accurate and fair estate liquidation
Losing a loved one is a painful 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. We guarantee the fullest 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 issues, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, 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.
Relocate to or from Los Angeles County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home quickly — 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 will help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
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 trusted way to decide 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.