Why you should order an appraisal
Each year, thousands of people in Washington purchase, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. Most lenders still call in a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that might appear more economical than an appraisal. Is obtaining a mortgage the only basis for getting an appraisal? Are there also times when the services of a certified, independent real estate professional could be helpful? Of course there are.
Appeal your tax assessment
If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from Anderson & Associates is your best evidence when building your case. At Anderson & Associates, we're equipped to assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance policy that most lenders ask home owners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. This extra payment is often folded into the monthly mortgage payment and is promptly forgotten. This is bad because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Anderson & Associates will provide you with a statement regarding the value of your home, and the expense of the appraisal can often be recovered 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 is an especially traumatic ordeal for the parties involved, and it is often even more complicated by the hard decision of who keeps the house. Regardless of the circumstances, it's a good idea to get an appraisal from Anderson & Associates so both parties are completely aware of the true market value of their home.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
The loss of a loved one is a difficult 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. We ensure the maximum 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 manage these matters, unlike many wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Clark County through an employee relocation program
We are familiar with the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive attributes of their property, as well as information about any new 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 more informed decision regarding your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, seeking a professional appraisal is a reliable way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.