Why you should order an appraisal from Appraisal Professionals
Year after year, thousands of people in Texas purchase, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. And while there are a growing number of automated home valuation systems that may appear more practical than an appraisal, most lenders still need a local expert because the stakes are so high. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a certified, independent real estate professional could come in handy? You bet there are.
Contest your tax assessment in Hays County
If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from Appraisal Professionals is your best evidence when building your case. We can assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home buyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Very often, this added payment is bundled into the monthly mortgage payment and is soon forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Appraisal Professionals will produce a statement regarding the value of your home. The cost of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the hard decision of who keeps the house, and it can be a particularly horrible event for both parties. It's a good idea to order an appraisal from Appraisal Professionals so both parties are completely aware of the true market value of their home, regardless of the circumstances.
The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Fair and accurate estate liquidation
The loss 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Hays County for work
We are aware of the headaches involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information regarding any new sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — for an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated 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 are based on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Getting 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.