6 Reasons you should order an appraisal from
Each year, thousands of people in buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that may appear more practical than an appraisal. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a licensed, independent real estate professional could be beneficial.
Contest your tax assessment in Baltimore County
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your real estate, so if prices have declined in your area, you can appeal your assessment and save money. An appraisal from is your best evidence when building your case. At , we're capable of assisting you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. This extra payment is often lumped into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
can give you a statement regarding the value of your home, and the price you paid for the appraisal can often be regained in a short amount of 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 particularly traumatic event for the parties involved, and it is often more complicated by the difficult decision of who maintains the home. So both parties are entirely aware of the true market value of their house, it's a good idea to get an appraisal from , regardless of the circumstances.
If the parties want to sell the home, they'll have a a good idea of what price to set. 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 calls for 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, ensuring the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. A home or other property often makes up an uneven 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 walk away knowing they've gotten an honest deal.
Relocate to or from Baltimore County through an employee relocation program
We understand the headaches involved with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive attributes of their property, along with information about any recent sales or listings in their neighborhood that they want considered.
Sell your home quickly — for the right price
A professional appraisal can help you make a better educated 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 aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
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 reliable way to decide 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 homes are one the market.