6 Reasons to order an appraisal from Anderson & Associates
To many, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. Almost all lenders still call in a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation processes that might appear to be more cost-effective than an appraisal. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a certified, independent real estate professional could be beneficial.
Contest your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your house, so if values have gone down in your area, you can appeal your assessment and save money. An appraisal from Anderson & Associates is your best evidence when building your case. At Anderson & Associates, we're equipped to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the property, almost all lenders ask homebuyers to buy this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Anderson & Associates can give you a statement regarding the value of your home. The price you paid for the home valuation can usually be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the burdensome decision of who maintains the home, and it can be an especially horrible occurrence for both parties. Regardless of the situation, it's a good idea to order an appraisal from Anderson & Associates so both parties are fully aware of the true market value of their property.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The death of 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, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up an unequal 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 leave knowing they've received a fair deal.
Move to or from Clark County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide feedback on the positive characteristics of their property, along with 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 want 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 regarding your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, 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.