Reasons to hire an appraiser
To a lot of us, an appraisal just looks like one more thing in the long list of items for a home purchase or refinance. And even though there are a growing number of automated home valuation processes that might appear more economical than an appraisal, nearly all lenders still need a local expert because the stakes are very high. Is obtaining a mortgage the only reason you should get an appraisal? Are there more times when the services of a certified, independent real estate professional might come in handy? You bet.
Contest your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if values have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the home, almost all lenders ask buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is soon forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, FOOTHILL APPRAISALS -- Foothill Area Specialist can produce a statement regarding the value of your home. The expense of the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
Order an appraisal from FOOTHILL APPRAISALS -- Foothill Area SpecialistOrder today
Settle a divorce with fewer hang-ups
A divorce is often complicated by the hard decision of who keeps the home, and it can be a particularly daunting occurrence for both parties. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from FOOTHILL APPRAISALS -- Foothill Area Specialist, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
Losing 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, guaranteeing the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from The Foothills for work
Employee relocation is a stressful event, and we understand. That being said, 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 features of their property, along with information regarding any recent sales or listings in their area that they want considered.
Close on your home quickly — at the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, obtaining a professional appraisal is a reliable way to determine 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.