Reasons to get an appraisal from Bruce W. Reyle & Company Real Estate Appraisers and Consultants
Thousands of people in Virginia purchase, sell or refinance their home each month. Many of these transactions include a simple line item for an appraisal. And while there are a budding number of automated home valuation systems that may seem more cost-effective than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. Is getting a mortgage the only reason to get an appraisal? Are there also instances when the services of a licensed, independent real estate professional might be helpful? You bet.
Dispute your tax assessment
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Bruce W. Reyle & Company Real Estate Appraisers and Consultants, we're capable of assisting you in disputing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, nearly all lenders ask home buyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Bruce W. Reyle & Company Real Estate Appraisers and Consultants will produce a statement regarding the value of your home, and the expense of the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the troublesome decision of who gets the property, and it can be a particularly horrible experience for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Bruce W. Reyle & Company Real Estate Appraisers and Consultants, regardless of the circumstances.
If the parties need 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.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a hard 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).
Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Fairfax City County through an employee relocation program
We are familiar with the stress associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive attributes 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 an accurate 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 when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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, because we're experts in knowing how long houses are one the market.