Reasons to get an appraisal
To many, an appraisal just looks like one more thing on the settlement sheet for a home purchase or refinance. The majority of lenders still call in a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation methods that may seem more prudent than an appraisal. You might assume that securing a mortgage is the only reason to get an appraisal, but there are additional times when the services of a certified, independent real estate professional might come in handy.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices have gone down in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Piscitelli Appraisal Service, we're qualified to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask homebuyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This additional payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Piscitelli Appraisal Service will provide you with a statement regarding the value of your home, and the price you paid for the appraisal can usually be offset in little time 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 can be a very traumatic event for both parties, and it is often even more complicated by the burdensome decision of who maintains the home. It's a good idea to order an appraisal from Piscitelli Appraisal Service so both parties are completely aware of the true market value of their property, regardless of the situation.
If the parties need 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
The loss 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these matters, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Ventura County for work
We are familiar with the headaches associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive aspects of their property, as well as information regarding any new sales or listings in their area that they want considered.
Close on your home quickly — for the right 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 regarding your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, obtaining a professional appraisal is a trusted 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.