Reasons to get an appraisal from Appraisal Options, Inc.
Each year, thousands of people in Florida purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Nearly all lenders still want a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that might seem more practical than an appraisal. You might assume that getting a mortgage is the only basis for getting an appraisal, but there are additional cases when the services of a certified, independent real estate professional might be beneficial.
Appeal your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if values have gone down in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that almost all lenders ask buyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Since the extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Appraisal Options, Inc. can give you a statement regarding the value of your home. The price you paid for the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a particularly daunting ordeal for both parties, and it is often further complicated by the challenging decision of who maintains the property. Regardless of the situation, it's a good idea to get an appraisal from Appraisal Options, Inc. so both parties are completely aware of the true market value of their home.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine a fair and accurate valuation for 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 manage these issues, unlike wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Osceola County for work
Employee relocation can be 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 detailed inspection, we suggest relocating employees to provide remarks on the positive attributes of their property, along with information regarding any recent sales or listings in their area that they want considered.
Sell your home quickly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, getting a professional appraisal is a reliable 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.