Why you should order an appraisal
To many, an appraisal just looks like one more thing in the long list of items for a mortgage or refinance. While there are a budding number of automated home valuation systems that might appear to be more cost-effective than an appraisal, almost all lenders still want a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be helpful? Of course.
Dispute your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your real estate, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Appraisal Professionals is your best evidence when building your case. We can assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, nearly all lenders ask buyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is unnecessary 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 invoked by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Appraisal Professionals can give you a statement regarding the value of your home. The expense of the home valuation can generally be offset 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 often complicated by the burdensome decision of who keeps the property, and it can be an especially traumatic ordeal for both parties. It's a good idea to order an appraisal from Appraisal Professionals so both parties are fully aware of the true market value of their home, regardless of the situation.
If the parties need to sell the home, they'll have a a good idea 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.
Accurate and fair estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Hays County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home quickly — at an accurate price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a trusted 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.