Reasons you should order an appraisal from Piscitelli Appraisal Service
Every year, thousands of people in California purchase, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. Almost all lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might appear more prudent than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there additional situations when the services of a certified, independent real estate professional could be helpful? You bet there are.
Contest your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, nearly all lenders ask home buyers to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually lumped 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 - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked 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 price you paid for the home valuation can usually be regained in little 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 can be a particularly daunting ordeal for both parties, and it is often more complicated by the strenuous decision of who maintains the house. 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 house, regardless of the situation.
If the parties want to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Fair and accurate estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property 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).
Most Americans do not have dedicated estate planners or executors to handle these matters, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Ventura County through an employee relocation program
We are aware of the stress involved with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — for the right price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a reliable way to determine 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, because we're experts in knowing how long properties stay on the market.