Reasons to get an appraisal from Price Appraisals & Realty, LLC
To many, an appraisal just looks like a line item in the long list of items for a home purchase or refinance. And even though there are a growing number of automated home valuation processes that might appear cheaper than an appraisal, nearly all lenders still want a local expert because the stakes are so high. You might believe that obtaining a mortgage is the only reason to get an appraisal, but there are more situations when the services of a certified, independent real estate professional could be helpful.
Contest your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in disputing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask buyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Oftentimes, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. This is damaging because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Price Appraisals & Realty, LLC can produce a statement regarding the value of your home. The expense of the appraisal can generally be recovered 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 troublesome decision of who keeps the home, and it can be an especially daunting occurrence for both parties. It's a good idea to order an appraisal from Price Appraisals & Realty, LLC so both parties are entirely aware of the true market value of their property, regardless of the situation.
If the parties wish 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 received a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires 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 utmost degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these issues. And seeing that a home or other property often makes up an unequal 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 an honest deal.
Move to or from Travis County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive aspects of their property, along with information about any new sales or listings in their area that they want considered.
Close on your home promptly — for the right 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 more informed 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 related to the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, seeking 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.