Reasons to order an appraisal
To many, an appraisal just looks like another cost on the settlement sheet for a home sale or refinance. And even though there are a budding number of automated home valuation systems that may seem more cost-effective than an appraisal, almost all lenders still call for a local expert because the stakes are very high. You might think that getting a mortgage is the only basis for getting an appraisal, but there are additional cases when the services of a licensed, independent real estate professional could come in handy.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your real estate, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Piscitelli Appraisal Service is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. More often than not, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Piscitelli Appraisal Service can give you a statement regarding the value of your home, and the cost of the home valuation can usually be regained in just a few months because you'll no longer be paying the PMI.
Order an appraisal from Piscitelli Appraisal ServiceOrder today
Get a fair valuation on a home for divorce settlements
A divorce is a very traumatic event for the parties involved, and it is often more complicated by the troublesome decision of who maintains the home. It's a good idea to get an appraisal from Piscitelli Appraisal Service so both parties are completely aware of the true market value of their property, regardless of the circumstances.
If the parties wish to sell the home, they'll have a a good 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 evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death of a loved one is a painful 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, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, 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 Ventura County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — at an accurate 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. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking 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 properties are one the market.