Reasons to get an appraisal
To many, an appraisal just looks like a line item in the long list of items for a mortgage or refinance. And even though there are a multiplying number of automated home valuation processes that may seem more prudent than an appraisal, most lenders still need a local expert because the stakes are incredibly high. You might assume that getting a mortgage is the only reason to get an appraisal, but there are more situations when the services of a certified, independent real estate professional might be helpful.
Contest your tax assessment in Ventura County
It's quite 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 previous assessment of your real estate, so if prices have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from Piscitelli Appraisal Service is your best evidence when building your case. We're equipped to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask homebuyers to purchase when the amount being loaned to the homeowner 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. This is unfavorable because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Piscitelli Appraisal Service will produce 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 take make a divorce settlement less stressful
A divorce can be a particularly daunting ordeal for both parties, and it is often further complicated by the burdensome decision of who keeps the home. Regardless of the circumstances, it's a good idea to order an appraisal from Piscitelli Appraisal Service so both parties are entirely aware of the true market value of their house.
If the parties need 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 received a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a difficult 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 ensure 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 take care of these affairs, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Ventura County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home quickly — for the right price
Whether you decide 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 asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based 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 extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, seeking a professional appraisal is a trusted 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.