6 Reasons to consider an appraisal from Price Appraisals & Realty, LLC
To a lot of us, an appraisal just looks like another cost on the break-sheet for a home purchase or refinance. Nearly all lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that may appear to be cheaper than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there more times when the services of a licensed, independent real estate professional could be beneficial? You bet there are.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from Price Appraisals & Realty, LLC is your best evidence when building your case. We can assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask home owners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. This is bad because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Price Appraisals & Realty, LLC will produce a statement regarding the value of your home, and the expense of the appraisal can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the burdensome decision of who keeps the house, and it can be a particularly horrible ordeal for both parties. It's a good idea to get an appraisal from Price Appraisals & Realty, LLC so both parties are completely 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 wish to sell the home. 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 hard 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, ensuring the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Travis County through an employee relocation program
We are familiar with the stress involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any new sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, obtaining a professional appraisal is a trusted way to determine 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.