6 Reasons you should order an appraisal from Appraisal House, Inc.
To many, an appraisal just looks like another fee on the settlement sheet for a home sale or refinance. While there are a multiplying number of automated home valuation processes that may seem more economical than an appraisal, most lenders still call in a local expert because the stakes are incredibly high. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are more situations when the services of a certified, independent real estate professional could come in handy.
Contest your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your house, 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 House, Inc. is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, almost all lenders ask homeowners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is bad because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Appraisal House, Inc. will give you a statement regarding the value of your home. The cost of the appraisal can often be recovered in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is a very horrible event for the parties involved, and it is often further complicated by the difficult decision of who maintains the property. Regardless of the circumstances, it's a good idea to order an appraisal from Appraisal House, Inc. so both parties are entirely aware of the true market value of their home.
The parties will have a better idea of what price to set, if they wish 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 hard 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 don't have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Okaloosa County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, as well as information about any new sales or listings in their area that they want considered.
Sell your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees depend 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. Getting 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, because we're experts in knowing how long properties stay on the market.