Why you should order an appraisal
Every year, thousands of people in Texas buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. Even though there are a multiplying number of automated home valuation systems that may appear to be more economical than an appraisal, most lenders still call in a local expert because the stakes are very high. Is getting a mortgage the only reason to acquire an appraisal? Are there more situations when the services of a certified, independent real estate professional might be helpful? You bet.
Challenge your tax assessment in Hays County
If you reside in an area where the property value has declined, 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 challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask home owners to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this extra payment is lumped into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Appraisal Professionals can provide you with a statement regarding the value of your home, and the cost of the appraisal can often be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a particularly traumatic event for the parties involved, and it is often further complicated by the challenging decision of who gets the house. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Appraisal Professionals, regardless of the situation.
The parties will have a better idea of what price to set, if they want to sell the home. And 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
Losing 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Hays County for work
We are familiar with the headaches associated with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, along with information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — 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 will help you make a better educated decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate 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 are one the market.