Why you should order an appraisal

Thousands of people in California purchase, sell or refinance their home every year. A lot of these transactions include a simple line item for an appraisal. And even though there are a budding number of automated home valuation processes that might seem less expensive than an appraisal, practically all lenders still call in a local expert because the stakes are very high. But is getting a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be helpful? Of course.

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Let Ramstar Appraisals help you appeal your tax assessment in Orange County

It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if values have gone down in your area, you can appeal your assessment and save money. When building your case, an appraisal from Ramstar Appraisals is your best evidence. We're equipped to assist you in appealing your tax assessment.

Getting rid of your PMI will lower your mortgage payment

Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask home buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Very often, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, Ramstar Appraisals can give you a statement regarding the value of your home. The price you paid for the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.

Divorce settlement with less stress

A divorce is a very heartbreaking experience for the parties involved, and it is often further complicated by the strenuous decision of who maintains the house. It's a good idea to order an appraisal from Ramstar Appraisals so both parties are entirely aware of the true market value of their property, regardless of the circumstances.

The parties will have a better idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

Trustworthy 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 Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.

Most Americans do not have dedicated estate planners or executors to manage these issues, unlike many wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the precise value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.

Ramstar Appraisals can assist you in relocating to or from Orange County

Moving due to a job change can be a more than just an inconvenience, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed process, we encourage employees that are moving to provide remarks on the positive attributes of their property, along with information about any recent sales or listings in their neighborhood that they want considered.

Let Ramstar Appraisals assist you in selling your home quickly at the right price

Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are derived from our efforts to complete the appraisal report and not a percentage of the sales price.

On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable 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 - because we're experts in knowing how long homes stay on the market.