Let Appraisal Options, Inc. serve your appraisal needs
To many, an appraisal just looks like a line item in the long list of items for a home purchase or refinance. And even though there are a budding number of automated home valuation systems that may appear cheaper than an appraisal, nearly all lenders still call for a local expert because the stakes are very high. Is getting a mortgage the only reason to get an appraisal? Are there additional times when the services of a licensed, independent real estate professional could be helpful? You bet there are.
Contest your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your house, 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're capable of assisting you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Seeing that additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Appraisal Options, Inc. will produce a statement regarding the value of your home. The cost of the appraisal can generally be regained in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be an especially daunting experience for both parties, and it is often further complicated by the troublesome decision of who gets the house. It's a good idea to order an appraisal from Appraisal Options, Inc. so both parties are fully aware of the true market value of their home, regardless of the circumstances.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
Losing 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. 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 take care of these matters, unlike many wealthy individuals. And seeing that a home or other property often makes up an uneven 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 a fair deal.
Move to or from Osceola County for work
We are familiar with the headaches involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any new sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — for the right price
A professional appraisal will help you make a better educated decision when determining your asking 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, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a trusted 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.