Reasons to consider an appraisal from
To a lot of us, an appraisal just looks like another fee on the break-sheet for a mortgage or refinance. Most lenders still call in a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation systems that may appear to be more cost-effective than an appraisal. You might assume that obtaining a mortgage is the only reason you should get an appraisal, but there are more instances when the services of a certified, independent real estate professional could be helpful.
Challenge your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your home, so if prices have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from is your best evidence when building your case. We're capable of assisting you in disputing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't necessary when the remaining 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 invoked by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
will provide you with a statement regarding the value of your home, and the cost of the home valuation can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the burdensome decision of who maintains the home, and it can be an especially horrible experience for both parties. It's a good idea to order an appraisal from so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
If the parties wish 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 assessment.
Determine an accurate and fair valuation for estate liquidation
Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike many 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 Fairfax City County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive characteristics of their property, as well as information regarding any current sales or listings in their area that they want considered.
Close on your home promptly — for 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 better educated decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable way to decide 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 properties stay on the market.