Why you should get an appraisal
Every year, thousands of people in Texas purchase, 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 a budding number of automated home valuation processes that might appear more practical than an appraisal. You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are more instances when the services of a certified, independent real estate professional could come in handy.
Contest your tax assessment
If you are in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Price Appraisals & Realty, LLC is your best evidence when building your case. We can assist you in appealing your tax assessment.
Eliminate PMI 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 home owners to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. 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.
If you'd like to do away with PMI, Price Appraisals & Realty, LLC will give you a statement regarding the value of your home. The expense of the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
Get your appraisal from Price Appraisals & Realty, LLCOrder today
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 even more complicated by the difficult decision of who keeps the home. Regardless of the situation, it's a good idea to get an appraisal from Price Appraisals & Realty, LLC so both parties are entirely aware of the true market value of their property.
If the parties wish 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 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 calls for 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 don't have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Travis County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — at an accurate price
Whether you decide 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 when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to 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. Obtaining a professional appraisal is a reliable way to decide 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, because we're experts in knowing how long houses are one the market.