Why get an appraisal from McDonough Appraisal Service?To many, an appraisal is simply a line item in the long list of items for a home purchase or refinance. Practically all lenders still need a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation methods that may appear to be less expensive than an appraisal. But is getting a mortgage the only reason to get an appraisal? Are there other instances when the services of a certified, independent real estate professional could come in handy? Of course.
Appeal your tax assessment in Los Angeles CountyIt's quite possible 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 house, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from McDonough Appraisal Service is your best evidence when building your case. At McDonough Appraisal Service, we're equipped to assist you in challenging your tax assessment.
How can you do away with PMI to lower your mortgage payment?Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask home buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
McDonough Appraisal Service will produce a statement regarding the value of your home, and the cost of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce can be a particularly daunting ordeal for both parties, and it is often more complicated by the strenuous decision of who keeps the property. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from McDonough Appraisal Service, regardless of the situation.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidationThe death 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 Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the correct value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
McDonough Appraisal Service can help you with relocating to or from Los Angeles CountyMoving due to a job change can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our intensive process.
Selling your home quickly at the right priceWhether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, which is different than the interest of real estate agents. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
We determine 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 homes stay on the market.