Why you should hire an appraiser
To many, an appraisal is simply one more thing in the long list of items for a home sale or refinance. While there are a growing number of automated home valuation systems that may seem more economical than an appraisal, practically all lenders still call in a local expert because the stakes are so high. Is obtaining a mortgage the only reason to get an appraisal? Are there other times when the services of a licensed, independent real estate professional could be helpful? Of course there are.
Appeal 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. 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 challenge your assessment and save money. An appraisal from Anderson Appraisal, LLC is your best evidence when building your case. At Anderson Appraisal, LLC, we're equipped to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, many lenders ask homebuyers to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked 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 get rid of PMI, Anderson Appraisal, LLC will give you a statement regarding the value of your home. The expense of the appraisal can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a particularly horrible event for both parties, and it is often further complicated by the difficult decision of who keeps the property. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Anderson Appraisal, LLC, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The loss 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Randall County for work
We are familiar with the stress associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value things 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.