Reasons to get an appraisal
To many, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. While there are a multiplying number of automated home valuation systems that might appear less expensive than an appraisal, most lenders still want a local expert because the stakes are incredibly high. You might assume that getting a mortgage is the only reason to get an appraisal, but there are other cases when the services of a licensed, independent real estate professional could be beneficial.
Challenge your tax assessment in Hays County
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a previous assessment of your home, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from Appraisal Professionals is your best evidence when building your case. At Appraisal Professionals, we're equipped to assist you in disputing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask home owners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the home. This added payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Appraisal Professionals will provide you with a statement regarding the value of your home, and the expense of the appraisal can usually be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a very traumatic event for the parties involved, and it is often further complicated by the strenuous decision of who gets the property. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Appraisal Professionals, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. 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 essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Hays County through an employee relocation program
We know the stress involved with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, along with information about any recent sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — at an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine what improvements will add value and what an applicable 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.