Reasons to hire an appraiser
Year after year, thousands of people in California purchase, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. And even though there are a developing number of automated home valuation methods that might appear to be less expensive than an appraisal, practically all lenders still call in a local expert because the stakes are so high. You might believe that getting a mortgage is the only reason you should get an appraisal, but there are more situations when the services of a licensed, independent real estate professional could come in handy.
Appeal your tax assessment in Los Angeles County
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Bowers Real Estate & Appraisal Services, we're capable of assisting you in appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask home buyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the property. This added payment is often bundled into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of 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 generally be offset in a short amount of time because you'll no longer be paying the PMI.
Get your appraisal from Bowers Real Estate & Appraisal ServicesOrder today
Settle a divorce with fewer hang-ups
A divorce is often complicated by the burdensome decision of who maintains the property, and it can be a particularly daunting event for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Bowers Real Estate & Appraisal Services so both parties are completely aware of the true market value of their house.
If the parties want 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 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 real estate involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Los Angeles County for work
We know the headaches 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 feedback on the positive attributes of their property, as well as information about any new sales or listings in their area that they want considered.
Close on your home promptly — for an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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 houses stay on the market.