6 Reasons to choose an appraisal from Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants
To a lot of people, an appraisal just looks like one more thing in the long list of items for a home purchase or refinance. While there are a multiplying number of automated home valuation processes that might appear to be less expensive than an appraisal, the majority of lenders still call for a local expert because the stakes are incredibly high. You might think that getting a mortgage is the only reason to get an appraisal, but there are other times when the services of a licensed, independent real estate professional might be helpful.
Appeal your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your house, so if values have declined 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 challenging your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that almost all lenders ask homeowners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Very often, this additional payment is folded into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants will provide you with a statement regarding the value of your home. The cost of the home valuation can usually be recovered in just a few months because you'll no longer be paying the PMI.
Order an appraisal from Bruce W. Reyle Commercial and Residential Real Estate Appraisers & ConsultantsOrder today
Divorce settlement with less stress
A divorce is often complicated by the challenging decision of who keeps the home, and it can be a particularly horrible event for both parties. It's a good idea to get an appraisal from Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants so both parties are fully aware of the true market value of their home, regardless of the situation.
If the parties want to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Fairfax City County for work
Employee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide feedback on the positive aspects of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — for the right price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you want to sell your home on your own or with the help 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 are based 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 extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, seeking a professional appraisal is a trusted 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.