Diverse Residential Appraisal Services
Babros & Associates, LLC offers a variety of residential appraisal services throughout Los Angeles and Orange Counties including mortgage appraisals (FHA included).
Martial Dissolution Settlements
Professional Expert Witness Testimony
Date of Death Valuations
Property Tax Reassessment
Mortgage Appraisals (FHA included)
Divorce is a painful process. Among the countless issues to worry about is the issue of "what do we do with our property?" There are two obvious choices when it comes to the shared properly. It can be sold and the proceeds divvied up, or one party can "buyout" the other. In either case, it would be wise to order an appraisal of the shared property.
A divorce appraisal must have a well-supported, authoritative value conclusion that can be supported by a judge. Babros Associates, LLC pledges to give you the very best in service with courtesy and the highest quality appraisal. We understand how to care for the sensitive needs of a divorce situation.
California attorneys, as well as accountants, rely on our opinions when figuring out what real property is worth for estates, divorces, or other disputes requiring a value opinion. We understand their needs and are used to dealing with all parties involved. We create appraisal documents for courts or various agencies that meet or exceed their requirements.
For attorneys dealing with a divorce, a case's material facts customarily require an appraisal to establish a market value for the residential real estate involved. A lot of the time the divorce date can be different from the date you ordered the appraisal. We are familiar with the processes and what is imperative to perform a retrospective appraisal that has an effective date and market value conclusion that matches the date of divorce. For each divorce appraisal we perform, we remain conscious of the fact that they need to be handled with total professionalism. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) means the highest amount of confidentiality, resulting in the utmost discretion.
Settling an estate is an important and sometimes stressful task. It's up to you as an executor to carry out the wishes of a loved one as quickly and with as much dignity as possible. You can count on Babros & Associates, to act expeditiously and with sensitivity to the feelings of everyone in bereavement.
Attorneys and accountants depend on our conduct when calculating real estate values for estates, divorces, or other disputes requiring a value being determined for real property. Generally, all parties will have different suggestions on how the appraisal process should work. However, our experience of the estate process satisfies all parties involved. We supply appraisal reports that surpass the necessities at the courts and other agencies. Settling an estate usually depends on an appraisal to determine market value for the house affected. We understand that in times like this, acquiring an appraisal is the furthest thought from your mind. We understand that the date an appraisal report is ordered will be different from the date of death. We are comfortable with the practices and requirements needed to perform a retrospective appraisal with an effective date and market value estimate matching the date your loved one passed away. The ethics provision stated within the United Standards Of Professional Appraisal Practice (USPAP) keeps our company to confidentiality, ensuring the fullest degree of privacy for you and your loved ones.
Many times, people do not fully appreciate the necessity of having an exhaustive appraisal report prepared in support of the figures shown in general documents filed with the IRS and California state agencies.
Opinions of value displayed in documents provided to revenue authorities absolutely should be backed by a detailed report as to how the appraiser arrived at his conclusions. Such a report will definitely demonstrate to the California agencies that the numbers used are accurate and substantiated.
An executor will be reassured by a report by Babros Associates, LLC which will give him undeniable facts and figures to deal with any legal agency's requirements. You need not worry over anything, because we will be there to back up our appraisals if they are ever refuted.
Estate tax liability. Disposition of assets under a will or in probate. There are many situations, and none of them lack stress and complexity. You might need an appraisal of property that states an opinion of what the property was worth on a date some time ago, rather than when the appraisal is ordered.
For estate tax purposes or disposition of the assets of a decedent, a "date of death" valuation is often required. (Sometimes. the executor of the estate may choose to have the date be six months after the date of death — but the same principles apply.)
Attorneys, accountants, executors, and others rely on Babros & Associates, LLC for "Date of Deceased" valuations because such appraisals require special expertise and training. They require a firm that's been in the area tor some time and can effectively research comparable contemporaneous sales.
Real property isn't like publicly traded stock or other items which don't fluctuate in value very much or for which historical public data is available. You need a professional real estate appraiser, bound by the Uniform Standards of Professional Appraisal Practice (USPAP) for a high degree of confidentiality and professionalism, and you need the kind of quality report and work product that taxing authorities and courts need and expect.
Many homeowners are receiving tax bills that don't seem to be in line with the real value of their homes.
Don’t pay more taxes than needed!
We've been performing residential real estate appraisals throughout Los Angeles and Orange Counties tor over a decade, so we know the market.
We can provide you with an accurate, professional and unbiased valuation of your property. As so many homeowners have already done, you can take that information to your tax board and potentially save hundreds of dollars on your taxes. It's easier than you think and you can only benefit from it!
If you're working with a real estate agent to list your property, more than likely they'll provide a comparative market analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the "Listing Price". This step is vital if you are going to maximize your profit and minimize the home's lime on the market.
But even if you're working with the most experienced estate agent, it's probably in your best interest to have an objective third-party's opinion of value pricing to signing the listing agreement. And that's where we come in. We can provide you with a pre-listing appraisal, so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps".
In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can also give you a number of advantages.
Be a very valuable negotiating tool once you have a potential buyer.
Impress buyers with written proof of your home's condition inside and out.
Make yourself aware of problems and eliminate last-minute repair hassles that might delay closing.
Decrease the chances of unknown problems that cause sales to fall through.
Eliminate the wail for the buyer or their mortgage company to get the appraisal done on their own.
Many people are surprised when they find out that the market value of their home is much more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helps them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and you would have wasted valuable time, money, and efforts.
In addition to "how much?" there may be other important questions to ask yourself before you sell your home. Questions like "Would it be better to paint the entire house before we sell it?" "Should I put in that third bathroom?", ‘Should I complete my kitchen remodel?" Many things we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense.
We can step in and help make these decisions. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our appraisal fees are based on efforts to complete the report and not a percentage of the sales. So a professional appraisal can help homeowners make the best decisions on investing their homes and setting a fair sales price.
Houses that have reverted to the bank's control and houses in foreclosure present various appraisal difficulties.
When there is a house in foreclosure, it's important to understand market value versus a "quick disposition" assessment to analyze your likely charge-off liability. At Babras Associates, LLC we have the experience in both producing snapshots of market value for our mortgage clients, as well as "quick sale" forecasts that understand your timeline.
Owners of homes in foreclosure, of course, can present unique challenges. For example, they might be disinclined to allow an inspection of the property. Often the properties show signs of vandalism, unfortunately at the hands of the residents. Or, it’s common to find a house at a minimum abandoned or the home languishing in disrepair for long periods of time.
If you're dealing with a home that has already changed to bank owned, you will be interested in a quick disposition. But you may want to understand and analyze three values. As-is, as repaired, and "quick sale".
The value of the house without any repairs performed.
Value with the repairs required to make the home marketable at market value - comparable with similar homes in the neighborhood.
Somewhere in the middle, with minor investment in repots - to get rid of the home quickly, possibly as a “fixer-upper”.
Again, we understand your timeline and the special situation of an REO property, as well as the specific data you will need - competing "stings”, market trends, and the like.