Our Services
Estate and Trust Appraisals
Pre-listing / Pre-purchase
Divorce
Tax Assessment Appeal
Bankruptcy
Financial Planning and Trust
PMI Removal
Bail Bonds Appraisal
Estate and Trust Appraisals
The task of settling an estate, while stressful, is very important. It’s up to you as a trustee to carry out the wishes of the deceased as quickly and with as much dignity as possible. You can count on us to act quickly and with as much sympathy to the feelings of everyone left behind.
Attorneys and Accountants count on our understanding when calculating real estate values for estates, divorces, or other disputes requiring a value being placed on real property. Settling an estate most often depends on an appraisal to estimate market value for the residential property in question. It is often the case that the time an appraisal is needed will coincide the date of death. We assure that we are accustomed to the procedures and requirements needed by the Federal and State revenue agencies to provide a retrospective appraisal with an effective date and market value estimate matching the exact date of death. The ethical requirements listed within the Uniform Standards of Professional Appraisal Practice (USPAP) keeps our company to confidentiality, assuring the strongest degree of privacy for you and your loved ones.
All too often, people do not fully fathom the demand to have a complete appraisal report produced in support of the numbers shown in tax documents filed with the IRS.
An accurate report showing the appraiser’s opinion of value is required to support the methods the appraiser used to form the opinions and conclusions in the appraisal report. In having a report supported by our professional staff, you will have the knowledge that the numbers provided in the report will demonstrate to the authorities that the numbers used are well founded and correct.
Having a professional gives the executor irrefutable facts and figures to work with in exceeding IRS and State of California requirements. You need not stress over anything, because we will be there to support our work if they are ever refuted.
Pre-listing / Pre-purchase
If you choose to sell or buy a home on your own without the assistance of a Real Estate Agent, a professional appraisal can help you make a better educated decision when determining the 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 make the best decisions on investing in their homes and setting a fair sales price.
Divorce
Divorce settlements involve many decisions, including who gets the house. There are generally two options regarding the shared residence, it can be put on the market and the proceeds divided or one party can “buy out” the other. In either case, one or both parties would be wise to commission an appraisal of the residence.
A divorce appraisal needs a well-supported, expert report that will hold up to a Judge’s discretion or during the mediation and arbitration proceedings. When you order an appraisal us, you are assured the best service with professional courtesy and top notch analysis. Working through the sensitive needs of a divorce situation is not a problem for us.
California Attorneys and Accountants rely on our opinions when figuring out real property values for estates, divorces, or other disputes requiring a value opinion. For Attorney’s handling a divorce, your case’s material facts customarily require an appraisal to determine market value for the residential real estate involved. Often the divorce date differs from the date you requested the appraisal. We’re accustomed to the processes and what’s requisite to develop a retrospective appraisal that has an effective date and Market Value opinion matching the date of divorce. The Uniform Standards of Professional Appraisal Practice (USPAP) contains an ethics provision which means the highest amount of confidentiality, resulting in the utmost discretion.
Tax Assessment Appeal
Most real estate and property taxes are based upon the value of the property. When the taxing agency values your property at a higher rate than the actual value, you are paying too much in taxes.
Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. Most successful appeals require that the property have an appraisal done by a licensed real estate appraiser, an expert opinion of the actual value.
There are many different procedures for appealing assessments; therefore, it’s important to enlist the help of a professional appraisal firm that’s experienced and trained in the ins and outs of your particular jurisdiction to make sure you have the best chance of winning your appeal.
Bankruptcy
Often times when going through a Bankruptcy, an Attorney will recommend their Clients contact a local Real Estate Appraiser to perform an appraisal on the home to accurately assess its current fair market value.
A home appraisal provides you with an accurate assessment of your home’s fair market value. It is extremely important to have an appraisal done by an experienced Certified Appraiser as significant discrepancies in the value of your home can create potential problems in bankruptcy. If the value is listed too low, the client runs the risk of a trustee objecting to their scheduled valuation and potentially asking the court for permission to seize your home.
In addition, an obvious ‘low ball’ value will call your honesty, truthfulness and credibility into question in future proceedings with the Bankruptcy judge, trustee, and opposing counsel. If a value is listed too high, a client may miss out on the availability of a Chapter 7 and/or end of paying back more than necessary in a Chapter 13.
For these reasons, bankruptcy professionals quite often need to hire, work with and rely on experienced certified real estate appraisers. Our team understands the complexities involved in assessing the value of a property under these difficult circumstances and work hard to provide you with the best possible experience.
Financial Planning and Trust
Financial and Estate Planners are often relied upon by their clients to provide sound, well-informed advice. At Machado Real Property Consulting we work closely with many Financial & Estate Planners to assure they have the information needed to develop the best and most effective strategies for their clients.
Real Estate holdings are often at the center of the 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 San Francisco Bay Area for a variety of trusts, estate purposes, tax planning, asset update purposes, and more.
PMI Removal
PMI, the acronym for private mortgage insurance, allows individuals to purchase their home with less than a 20% down payment. If you are paying PMI, the question you need to ask yourself is; “Is it time to stop paying monthly PMI into an escrow account and instead start putting that money into your pocket?”
If you purchased your home with conventional financing and put less than 20% down, it’s likely you’re paying PMI. Private mortgage insurance protects the lender or investor against loss if a borrower stops making payments. Often, homeowners mistakenly pay this insurance years after it’s no longer needed and as a result end up paying thousands in useless insurance premiums. Here’s the good news that many homeowners don’t realize – Once you’ve reached 20% equity in your home by appreciation, improvements made to the home or by paying down the principal balance of the mortgage (or any combination of the three), you can force the lender to cancel the private mortgage insurance. All you have to do is request in writing that the private mortgage insurance be canceled (most lenders have a brief form which must be filled out) and provide the lender with proof of sufficient equity over 20%.
In most cases, the necessary proof is a state certified appraisal. Recent legislation (Homeowners Protection Act) requires servicing lenders to make homeowners aware of the existence of any PMI they might be paying for and the requirements necessary to have it cancelled. Fortunately, you don’t have to wait for the lender’s notification to rid yourself of PMI. In most cases, if you have equity of 20% or more you’ll be able to cancel it almost immediately.
We offer a free initial consultation and will help you to determine if you have sufficient equity in your home to enable you to cancel your PMI. Give us a call today with any questions you might have.
Bail Bonds Appraisal
At Machado Real Property Consulting our appraisal services assists homeowners who are in need of posting bail. We know how traumatizing these situations can be even for a short period of time, so we understand the importance of moving quickly in order to get your loved ones home as soon as possible.
An appraisal is usually required to determine collateral for a bail or immigration bond while your loved one is in jail or some type of custody. These types of appraisals are what we call ‘drop everything we’re doing appraisals’ because when real estate is offered as security, you need to know what a property is worth, and you need to know it as quickly as possible.
This usually means we have to stop working on other appraisals already in progress, reschedule appointments, and much more in order to focus strictly on your immediate needs. These appraisals receive our highest priority. We provide our services in a professional manner that are handled discreetly and confidentially to assure your privacy.