Why you should order an appraisal from Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants
Every year, thousands of people in Virginia purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Even though there are an increasing number of automated home valuation processes that may appear more cost-effective than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are other situations when the services of a licensed, independent real estate professional might come in handy.
Dispute your tax assessment
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants is your best evidence when building your case. At Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants, we're capable of assisting you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, nearly all lenders ask homebuyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants can produce a statement regarding the value of your home, and the expense of the home valuation can generally be regained in little time because you'll no longer be paying the PMI.
Get your appraisal from Bruce W. Reyle Commercial and Residential Real Estate Appraisers & ConsultantsOrder today
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 property, and it can be a very traumatic experience for both parties. Regardless of the circumstances, 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 property.
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 received a fair evaluation.
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 real estate 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 do not have dedicated estate planners or executors to take care of these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Fairfax City County through an employee relocation program
We understand the stress associated with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive characteristics of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — at the right price
A professional appraisal will help you make a better educated decision when determining your selling 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 amount the house sells for, unlike 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 additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a trusted way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.