Reasons to order an appraisal
To a lot of people, an appraisal just looks like a line item in the long list of items for a home purchase or refinance. And while there are a growing number of automated home valuation methods that might appear less expensive than an appraisal, almost all lenders still call in a local expert because the stakes are so high. You might think that getting a mortgage is the only reason to acquire an appraisal, but there are other instances when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment in Okaloosa County
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, most lenders ask home buyers to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Appraisal House, Inc. can give you a statement regarding the value of your home, and the cost of the home valuation can generally be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the troublesome decision of who gets the home, and it can be a very daunting event for both parties. It's a good idea to order an appraisal from Appraisal House, Inc. so both parties are completely aware of the true market value of their house, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
Losing 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these matters. 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 leave knowing they've gotten a fair deal.
Move to or from Okaloosa County for work
We are familiar with the headaches involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, as well as information about any recent sales or listings in their area that they want considered.
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. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a reliable way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.