6 Reasons to choose an appraisal from
To a lot of us, an appraisal is simply a line item on the settlement sheet for a home purchase or refinance. And while there are a multiplying number of automated home valuation systems that might appear to be more economical than an appraisal, almost all lenders still want a local expert because the stakes are incredibly high. Is securing a mortgage the only basis for getting an appraisal? Are there other times when the services of a licensed, independent real estate professional might be helpful? Absolutely.
Contest your tax assessment in Baltimore County
If you are in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At , we're capable of assisting you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, most lenders ask home owners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
will produce a statement regarding the value of your home, and the price you paid for the home valuation can usually be offset 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 a particularly horrible ordeal for both parties, and it is often even more complicated by the difficult decision of who maintains the house. It's a good idea to get an appraisal from so both parties are fully aware of the true market value of their house, regardless of the situation.
The parties will have a good idea 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 received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for 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 fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Baltimore County for work
We are familiar with the headaches associated 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 encourage relocating employees to provide input on the positive aspects of their property, along with information regarding any current sales or listings in their area that they want considered.
Close on your home quickly — for the right price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. Unlike 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 finish the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long homes are one the market.