Every year, countless people in the Martinez, Walnut Creek & Concord, CA area buy, sell or refinance their own slice of the American Dream. Most, if not all, of these transactions include a simple line item for an appraisal. It has become an understood and accepted part of a real estate transaction. “Let’s bring in the expert and make sure we’re not spending too much on this property.”
But is this the only reason to get an appraisal? Are there other times when the services of a CREA certified, licensed, independent real estate professional might come in handy? You bet.
One of the most important issues involved in purchasing a property is developing an opinion of what it’s worth so that you can make an informed offer to purchase. A professional appraisal report performed by a qualified, state-licensed appraiser can provide you with an objective, third-party opinion of a property’s current Market Value. And for the small price of this service, you can give yourself “peace of mind” prior to making an offer to purchase that you’re offering a fair price for the property.
If you need to consolidate bills, get more favorable terms, have a college tuition to pay, or just want to tap into the equity of your home, you’ll need a new loan, which oftentimes requires a new appraisal of the property.
If you purchased a home with a mortgage loan above 80 Percent LTV (Loan To Value) chances are you have PMI (Private Mortgage Insurance). It can be an expensive requirement when getting a home loan. Avoiding PMI or having it removed can help to cut costs on your homeownership costs. In today’s real estate market we have been experiencing a changes in value. A home appraisal will be required to determine your current home value and we are here to help! SF Bay Appraisal Services has completed 1000’s of appraisals in the Bay Area and we specialize in private party PMI removal appraisals.
A divorce can be a particularly traumatic experience for both parties and is often further complicated by the difficult decision of “Who gets the house?”. In most divorce cases, the Court won’t usually force the parties involved to “buyout” the other party’s interest but it may however order the sale of the home so each party gets an equal share of the equity. Regardless of the situation, it’s a good idea to order an appraisal so both parties are fully aware of what the true market value is.
If the parties want to sell the home, they’ll have a better idea of what price to set. And on the flipside, if a “buyout” is the chosen option, both parties will feel like they’ve gotten a fair assessment. Learn more about how a divorce appraisal can give you financial protection and peace of mind.
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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, the majority of Americans do not have dedicated estate planners or executors to handle these issues. Also, in most cases, a home or other real property makes up a disproportionate share of the total estate value.
Here too, an appraiser can help. Often the first step in fairly disposing of an estate is to understand its true value. Where property is involved, the appraiser can help determine the true value. At this point, equitable arrangements can more easily be arrived at among disputing parties. Everyone walks away knowing they’ve received a fair deal.
We understand the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive attributes of their property along with information about any recent sales or listings in their neighborhood that they want considered.
Before you decide to sell your home, there are several decisions to be made. First and foremost: “How much should it sell for?” But don’t forget there may be other equally important questions to ask yourself such as “Would it be better to paint the entire house before we sell it?”, “Should I put in that third bathroom?”, “Should I complete my kitchen remodel?” Many things which we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense. A neutral assessment from an appraiser can help you maximize returns.
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better-educated decision when determining your selling price.
Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. It’s easy for them to step in and give you the information to help you make your decision. Appraiser fees are based on efforts to complete the report and not a percentage of the sales price. So seeking a professional appraisal can often help homeowners in Martinez, Walnut Creek and Concord, CA make the best decisions on investing in their homes and setting a fair sales price.
When your home is where your wealth is, some times you need to tap that stored value for emergencies. Posting bail for a loved one is an instance where your home can secure their freedom. You'll need a quick and legitimate appraisal in order to provide collateral for the bail bond. We can help
Planning for the future and passing on generational wealth is important. Real estate holdings are often at the center of a trust or other financial plan as they’re usually the client’s largest assets. Whether you need an appraisal for a single property or multiple appraisals for an entire portfolio we understand the process involved. We’ve provided appraisals for Estate Planners throughout the Bay Area for a variety of trusts, estate purposes, tax planning, asset update purposes, and more.
Fundamentally, a valuation of a horse property is similar to appraising any other home or lot. When livestock are added tot he mix, additional layers of research and speacialized comparable searches are required. Zoning, acreage, facilities, improvements, and the number of animals all weigh on the value ofan equestrian property. Read more about the process and our experience.
Getting behind on mortgage payments can be a scary and stressful time. Default and foreclosure can make you feel helpless. We have experience providing hope in the form of appraisal services for short sale and real estate owned (REO) situations.
Do you think you are paying too much property tax? Your County may have over-valued your property. You have the right to file an appeal with the Assessor to have your property value corrected. A professional, independent, third-party real estate appraisal may be crucial in having your property tax reduction appeal approved.
Our company is on the FHA Roster of approved residential appraisers. We are qualified and approved to do appraisals for FHA insured loans. We’re trained and understand the rules and procedures in FHA’s guidance and policy documents.