Reasons to get an appraisal
Year after year, thousands of people in Texas purchase, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. Practically all lenders still want a local expert because the stakes are so high, even though there are a developing number of automated home valuation processes that might appear to be more cost-effective than an appraisal. Is securing a mortgage the only basis for getting an appraisal? Are there additional instances when the services of a certified, independent real estate professional could come in handy? You bet.
Challenge your tax assessment in Randall County
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 based upon a previous assessment of your house, so if values have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from Anderson Appraisal, LLC is your best evidence when building your case. We're equipped to assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, most lenders ask homebuyers to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remainder 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 requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Anderson Appraisal, LLC can give you a statement regarding the value of your home. The expense of the home valuation can generally 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 fewer hang-ups
A divorce is often complicated by the difficult decision of who maintains the home, and it can be a very daunting experience for both parties. Regardless of the situation, it's a good idea to get an appraisal from Anderson Appraisal, LLC so both parties are entirely aware of the true market value of their house.
The parties will have a better idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death 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. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. And since a home or other property often makes up an unequal share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Randall County through an employee relocation program
We know the stress involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive aspects of their property, as well as information about any new sales or listings in their area that they want considered.
Close on your home promptly — for the right 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, unlike real estate agents. Our fees rest on our efforts to finish 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. Seeking 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, because we're experts in knowing how long homes are one the market.