Reasons you should order an appraisal from Appraisal Advantage, Inc
Year after year, thousands of people in Florida purchase, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. Even though there are a budding number of automated home valuation systems that might seem cheaper than an appraisal, the majority of lenders still need a local expert because the stakes are so high. You might believe that obtaining a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a licensed, independent real estate professional could be helpful.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your home, so if prices have declined in your area, you can challenge your assessment and save money. An appraisal from Appraisal Advantage, Inc is your best evidence when building your case. At Appraisal Advantage, Inc, we're equipped to assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan 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 real estate. More often than not, this extra payment is folded into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress invoked 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 eliminate PMI, Appraisal Advantage, Inc can provide you with a statement regarding the value of your home. The price you paid for the home valuation can often be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the troublesome decision of who gets the property, and it can be a particularly daunting event for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Appraisal Advantage, 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 better 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 gotten a fair evaluation.
Ascertain a fair and accurate valuation for 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 real estate 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 do not have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing 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 Central Florida through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information about any current sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for an accurate price
A professional appraisal can help you make a better educated decision regarding 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 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 items like an extra bathroom or a kitchen remodel can make. Getting 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, because we're experts in knowing how long homes stay on the market.