Reasons to order an appraisal
Each year, thousands of people in Washington buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are very high, even though there are an increasing number of automated home valuation processes that may appear to be more economical than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there other times when the services of a licensed, independent real estate professional could come in handy? You bet.
Dispute your tax assessment in Clark County
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your home, so if prices have declined in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Anderson & Associates, we're equipped to assist you in disputing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, almost all lenders ask homeowners to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Anderson & Associates will produce a statement regarding the value of your home, and the price you paid for the home valuation 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 clear valuation on a home for divorce settlements
A divorce can be a particularly daunting event for both parties, and it is often further complicated by the burdensome decision of who gets the house. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Anderson & Associates, regardless of the circumstances.
The parties will have a better idea 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 received a fair evaluation.
Accurate and fair estate liquidation
Losing 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 ensure the fullest 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 handle these issues, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Clark County through an employee relocation program
We are aware of the stress associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information about any new sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — for an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining 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 properties are one the market.