Reasons to consider an appraisal from Bowers Real Estate & Appraisal Services
Each year, thousands of people in California buy, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. And while there are an increasing number of automated home valuation processes that might seem cheaper than an appraisal, most lenders still call for a local expert because the stakes are so high. Is obtaining a mortgage the only reason to get an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be beneficial? Absolutely.
Challenge your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your house, so if prices have gone down in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask home owners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This added payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Bowers Real Estate & Appraisal Services can give you a statement regarding the value of your home. The price you paid for the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a particularly traumatic experience for the parties involved, and it is often more complicated by the burdensome decision of who keeps the property. It's a good idea to order an appraisal from Bowers Real Estate & Appraisal Services so both parties are entirely aware of the true market value of their house, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
Losing 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 maximum 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 affairs, unlike many wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Los Angeles County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home quickly — at the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Getting 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 houses stay on the market.