Reasons to hire an appraiser
Thousands of people in California purchase, sell or refinance their home every year. A lot of these transactions include a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation processes that may seem more economical than an appraisal. You might believe that securing a mortgage is the only basis for getting an appraisal, but there are more situations when the services of a certified, independent real estate professional might come in handy.
Challenge your tax assessment
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, most lenders ask homeowners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. 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, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Bowers Real Estate & Appraisal Services can give you a statement regarding the value of your home, and the price you paid for the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is a very traumatic experience for the parties involved, and it is often further complicated by the strenuous decision of who gets the house. It's a good idea to get 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.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The loss 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Los Angeles County through an employee relocation program
We are aware of the headaches involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive attributes of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Sell your home quickly — for the right price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, obtaining a professional appraisal is a reliable 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.