31 Mar 7 Reasons To Get An Appraisal
Here are the top 7 reasons why California homeowners order from Goldrich Real Estate Services:
- Find the right listing price (whether you’re using a real estate agent or selling the home on your own)
- Challenge Los Angeles County’s assessment of your property
- To lower your monthly mortgage payment by removing PMI
- To reinstate your Home Equity Line of Credit (or HELOC)
- Review a different appraiser’s report for verification
- If real estate needs to be divided because of a divorce
- Determine the true market value of the property in question to settle an estate in Los Angeles county or California
Pre-listing Services/For Sale by Owner (FSBO)We at Goldrich Real Estate Services understand the individual needs of a consumer in need of appraisal services. While our usual business clients understand the appraisal process and standard reporting formats, you as a consumer will get extra customer service in the form of an explanation of the process and even special consumer-friendly reporting forms if the assignment allows for them.
It’s very hard to be objective about your house because you probably have an emotional attachment to it. Professional appraisers, like the ones at Goldrich Real Estate Services, are objective. We will tell you what you need to know, not just what you want to hear. A professional appraisal is very important as a negotiating tool once you have an interested buyer, in addition to helping you set a realistic price to sell at so your house will attract interested buyers. It gives you something tangible to show your buyer. It’s an independent third party’s opinion of your house’s value, and not just you saying how much you think your house is worth. Interested buyers know that you have an emotional attachment to your house and will be far more likely to give credibility to an expert appraiser’s value conclusion than yours.
Challenge property tax assessments
Let’s say you live in an area that is going down — your local tax assessor may have your house overvalued. This means you are going to pay higher taxes than you should be paying. The earlier you take care of a matter like this, the better off you’ll be, since your property assessment may likely go up again in the next period. When contesting your property tax assessment, getting a professional appraisal from Goldrich Real Estate Services is your perfect weapon.
PMI Removal Appraisals
A popular way to cut expenses for homeowners is to get the PMI canceled from their mortgage loan, thus saving them money on their monthly payments. PMI stands for “Private Mortgage Insurance”. Your monthly payments will go down once your mortgage loan amount is less than 80% of the value of your house. In most cases you can apply to a lender to have the PMI canceled from your loan. At Goldrich Real Estate Services, we’re veterans in helping customers just like you dismiss unnecessary PMI insurance.
HELOC recently frozen?
Your lender just may make the decision to automatically freeze your home equity line of credit (HELOC) if your home is in a declining area — even if your specific property has not declined in value. This can be destructive to your credit score since it may appear as though that credit line is maxed out, and also unsuitable from a cash flow point of view. Goldrich Real Estate Services can help you reinstate your HELOC.
Need Field and Desktop Appraisal Review Services?
Would you prefer a second opinion without the cost and delay of waiting for a whole new appraisal? Or do you want a professional to double-check your appraisal for preciseness? An appraiser from Goldrich Real Estate Services can go out and check the subject and comps in question in a field review. Or, if you need it ASAP, we can provide you with a desk review and verify as many facts as we can, using online data sources as well as our own files.
We can also provide you with a retrospective review of any appraisal you may have had in the past. Although most review work is requested by lenders for quality control, homeowners that have reason to believe they’ve been the victim of mortgage fraud are prudent to invest in a second opinion.