Reasons to get an appraisal
To a lot of people, an appraisal just looks like another cost in the long list of items for a mortgage or refinance. And while there are a budding number of automated home valuation methods that may seem more economical than an appraisal, most lenders still want a local expert because the stakes are incredibly high. Is getting a mortgage the only reason to get an appraisal? Are there also situations when the services of a licensed, independent real estate professional could be beneficial? Of course there are.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your home, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, almost all lenders ask home owners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress passed 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.
Anderson Appraisal, LLC will produce a statement regarding the value of your home, and the price you paid for the home valuation can often be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially traumatic experience for both parties, and it is often even more complicated by the difficult decision of who maintains the home. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Anderson Appraisal, LLC, regardless of the circumstances.
If the parties need to sell the home, they'll have a better 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.
Determine a fair and accurate valuation for estate liquidation
The loss of 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Potter County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — for an accurate price
Whether you choose 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. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a reliable 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.