Our Services
Shorecliff Appraisal Services, Inc. provides a full suite of residential appraisals services depending on our clients needs with responsive delivery times at competitive rates. We have over 25 years of experience in Southern California and are FHA approved.
DIVORCE
An appraisal is often needed during a divorce to determine the value of marital assets, such as property and possessions that will need to be divided between the two parties. Having an accurate appraisal can help ensure that the assets are divided fairly and equitably, and can also provide evidence in court if disputes arise during the divorce proceedings. Additionally, an appraisal can help both parties negotiate and come to an agreement on the value of the assets, which can potentially save time and money in the long run.
ESTATE SETTLEMENT
An appraisal is often needed for an estate to determine the value of the assets left behind by the deceased person. This includes real estate, personal property, and other assets such as investments and businesses. The purpose of the appraisal is to ensure that the assets are distributed fairly and equitably among the beneficiaries, and to determine the value of the estate for tax purposes. An accurate appraisal can also help to avoid disputes among the beneficiaries and can provide evidence in court if necessary. Additionally, an appraisal can help the executor of the estate to fulfill their legal obligations and ensure that the estate is settled in a timely manner.
BANKRUPTCY
An appraisal is needed for bankruptcy to establish the fair market value of the property, which plays a crucial role in the bankruptcy proceedings. The court requires an appraisal to determine the value of the property before approving a Chapter 7 liquidation bankruptcy or Chapter 13 debt repayment bankruptcy. The bankruptcy appraisal is similar to a mortgage lending appraisal. A certified appraiser carries out the bankruptcy appraisal process, which involves comparing multiple recent house sales in the area to get an opinion of the home's value. The appraisal report also contains factual data to support the value established. A full appraisal from a reputable, qualified appraiser is essential in demonstrating the value of the property in the most credible manner.
TAX PURPOSES
An appraisal is needed for property tax purposes because it determines the value of a property, which is used to calculate the amount of taxes due. Government assessors typically perform these assessments, and a certified appraisal may be required for legal purposes, such as estate, tax, or insurance purposes. Certified appraisals are often necessary for inherited property that is to be gifted or bequeathed. A well-documented and defensible appraisal is necessary to establish the value of assets and avoid problems of establishing the value of assets.
PRE HOME LISTING
An appraisal is needed for pre-listing of a home to help sellers determine the fair market value of their home before listing it for sale. An accurate appraisal helps sellers set the right asking price and avoid overpricing or underpricing the property. Overpricing may result in the property sitting on the market for an extended period, while underpricing may result in the seller missing out on potential profits. A pre-listing appraisal provides sellers with an objective analysis of the property's value, taking into account the current housing market trends, the home's location, and the condition of the property, among other factors. In addition, a pre-listing appraisal may help facilitate negotiations between buyers and sellers and give buyers the confidence to make an offer on the property. Overall, a pre-listing appraisal is a valuable tool for sellers who want to accurately price their property and maximize their profits.
PROBATE
An appraisal is needed for probate for a number of reasons. First, it helps to take inventory of a deceased person’s assets and determine their value, which is important for defining what makes up the decedent’s estate and the value of the estate as a whole. Additionally, property appraisals are important during an estate administration for many reasons, including determining the actual value of the estate as a whole in order to complete the probate process and file any necessary tax returns for the estate. Furthermore, probate assets include real estate, vehicles, and other titled assets owned solely by the deceased person or as a tenant in common with someone else, and others, like antiques, jewelry, and collectibles, may require an appraisal. Overall, an appraisal is an important part of the probate process and is necessary to ensure that the estate is properly valued and administered.
PROPERTY TAX APPEALS
When appealing a property tax assessment, a new appraisal may be needed to support the appeal. The reason for this is that the appraisal report can provide evidence to challenge the tax assessment, particularly if the assessed value is significantly different from the appraised value. According to Mirne Law, appraisal reports submitted for purposes of a tax appeal must indicate as such in the report, as bank appraisals are presumed to indicate a “safe” estimate of value. This requirement is important because it helps ensure that the appraisal report is specifically tailored to the needs of a tax appeal and provides an accurate assessment of the property's true value.
LENDING
An appraisal is needed for lending purposes to determine the market value of a property that will be used as collateral for a loan. Lenders need to know the value of the property to ensure that the loan amount is appropriate for the value of the collateral and to assess the risk associated with lending the funds. An appraisal report provides details about the property's characteristics, condition, location, and other important factors that can affect its value.
Appraisal reports also provide a level of assurance to the lender that the property being used as collateral is worth the amount of the loan or more. Appraisals are required for most types of mortgage loans, including FHA and VA loans, as well as for refinancing and home equity loans. Lenders may also require an appraisal for other types of loans, such as business loans that are secured by real estate. Overall, an appraisal provides an objective and independent assessment of the property's value, which helps ensure that the lender is making a sound investment.
RETROSPECTIVE APPRAISAL
A retrospective home appraisal is needed when the value of the home needs to be determined for a past date, rather than the current date. This can be necessary for a variety of reasons, such as estate planning, tax purposes, divorce settlements, or property damage claims. A retrospective appraisal requires the appraiser to research and analyze data from the past to determine the value of the property at that time.
Retrospective appraisals can be challenging because the appraiser must consider the real estate market conditions, economic factors, and any changes made to the property between the date of the appraisal and the date being appraised. The appraiser must also use historical data and
comparable sales from the time period being appraised, which may not be readily available.
A retrospective appraisal may require additional research and analysis compared to a typical appraisal because the appraiser must also consider any changes in the real estate market between the date being appraised and the current date. Overall, a retrospective appraisal provides an
accurate and objective assessment of a property's value for a past date, which can be valuable in a variety of situations. Selecting a certified residential appraiser is important because it ensures that the appraisal is performed accurately and ethically. Certified residential appraisers have completed the necessary education and training requirements, and have passed a national exam
to demonstrate their knowledge and competency in the field of residential real estate appraisal. A certified residential real property appraiser may appraise one-to-four residential units without regard to value or complexity. By choosing a certified residential appraiser, property owners and buyers can have confidence in the accuracy and fairness of the appraisal process.
HOME MEASURING
Fannie Mae has adopted the ANSI Z765-2021 Measuring Standard for measuring, calculating, and reporting square footage of residential properties for appraisals requiring interior and exterior inspections. ANSI stands for the American National Standards Institute, an organization that develops and publishes standards for a variety of industries. The adoption of the ANSI standard by Fannie Mae creates alignment across market participants, provides a professional and defensible method for the appraiser, and allows transparent and repeatable results for consumers of appraisal reports. The ANSI standard provides a consistent, accurate, and reliable method for measuring a property's gross living area (GLA) and non-GLA areas, such as basements and additional structures, for most property types. Appraisers must follow the Square Footage-Method for Calculating when measuring, calculating, and reporting the GLA of a property. Staircases are included in the GLA of the floor from which they descend.