profile picture

Penna Appraisals in South San Francisco are called upon for numerous reasons

Thousands of people in California purchase, sell or refinance their home every month. A lot of these transactions have a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are very high, even though there are a growing number of automated home valuation processes that might appear more prudent than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are other instances when the services of a certified, independent real estate professional could be beneficial.

Contact Penna Appraisals if you're planning on any transaction where the worth of your real estate is a factor. Just click here

Let Penna Appraisals help you challenge your tax assessment in San Mateo County

If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Penna Appraisals is your best evidence when building your case. At Penna Appraisals,we can assist you in disputing your tax assessment.

Let Penna Appraisals help you eliminate PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance plan that many lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI installments on most mortgages when the balance is paid down to 78% of the original value.

Penna Appraisals will produce a statement regarding the value of your home, and the price you paid for the appraisal can usually be offset in little time because you'll no longer be paying the PMI.

An appraisal from Penna Appraisals will help you settle a divorce with less stress

A divorce can be an especially traumatic experience for both parties, and it is often even more complicated by the burdensome decision of who gets the house. It's a good idea to get an appraisal from Penna Appraisals so both parties are entirely aware of the true market value of their house, regardless of the circumstances.

The parties will have a clearer picture of what price to set, if they need 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.

Fair and accurate estate liquidation with Penna AppraisalsSettling an estate

The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for 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, guaranteeing the fullest degree of discretion.

Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Let Penna Appraisals assist you in relocating to or from San Mateo County

Moving due to a job change is a more than just an inconvenience. We know where you're coming from! That being said, we take great care in establishing an accommodating 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 recent sales or listings in their neighborhood that they want considered during our detailed process.

Selling your home quickly at the right price

A professional appraisal will help you make a more informed decision regarding your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. 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 aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal.

On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted 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 properties stay on the market.