Reasons to 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. Many of these transactions consist of a simple line item for an appraisal. And while there are a developing number of automated home valuation methods that might appear more economical than an appraisal, almost all lenders still need a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason you should get an appraisal? Are there more cases when the services of a certified, independent real estate professional could be helpful? Absolutely.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your house, so if values are less than what they used to be in your area, you can appeal your assessment and save money. 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 equipped to assist you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. More often than not, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants will give you a statement regarding the value of your home, and the price you paid for the appraisal can generally be regained in a short amount of time 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 can be a very traumatic ordeal for both parties, and it is often further complicated by the challenging decision of who gets the home. It's a good idea to order an appraisal from Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants so both parties are entirely aware of the true market value of their property, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair 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.
Unlike wealthier 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 uneven 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 received a fair deal.
Relocate to or from Fairfax City County through an employee relocation program
We know the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide remarks on the positive aspects of their property, as well as information about any current sales or listings in their area that they want considered.
Close on your home promptly — for the right price
A professional appraisal can help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. Obtaining 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, because we're experts in knowing how long properties stay on the market.