Reasons to get an appraisal
To a lot of people, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. Most lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might appear more economical than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there also cases when the services of a licensed, independent real estate professional could be beneficial? Absolutely.
Appeal your tax assessment in Travis County
It's likely you're paying too much in property taxes if you live 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 area, you can challenge your assessment and save money. An appraisal from Price Appraisals & Realty, LLC is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that most lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Price Appraisals & Realty, LLC will provide you with a statement regarding the value of your home, and the price you paid for the home valuation can often be regained in just a few months 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 gets the home, and it can be an especially horrible occurrence for both parties. So both parties are fully aware of the true market value of their home, it's a good idea to order an appraisal from Price Appraisals & Realty, LLC, regardless of the circumstances.
If the parties wish to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The loss of 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 real estate 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 don't have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of essential 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 aware of the stress involved with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate price
A professional appraisal can help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. 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 rest on our efforts to finish the appraisal report.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking 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, because we're experts in knowing how long houses stay on the market.