Let Sullivan Appraisals serve your appraisal needs
Each year, thousands of people in California buy, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. Even though there are a developing number of automated home valuation systems that may appear to be cheaper than an appraisal, practically all lenders still need a local expert because the stakes are so high. You might believe that getting a mortgage is the only reason to get an appraisal, but there are more situations when the services of an independent real estate professional might be helpful.
Challenge your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your home, so if values have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from Sullivan Appraisals is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that almost all lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the leftover balance 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 invoked 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.
Sullivan Appraisals can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is a particularly traumatic event for the parties involved, and it is often further complicated by the hard decision of who keeps the property. It's a good idea to order an appraisal from Sullivan Appraisals so both parties are fully aware of the true market value of their home, regardless of the circumstances.
If the parties wish 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.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Riverside County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home quickly — for the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Seeking a professional appraisal is a trusted 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.