Why you should get an appraisal
To a lot of people, an appraisal is simply a line item in the long list of items for a home sale or refinance. Even though there are a growing number of automated home valuation methods that might appear more prudent than an appraisal, nearly all lenders still need a local expert because the stakes are so high. You might think that getting a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a licensed, independent real estate professional could come in handy.
Contest your tax assessment in none County
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a previous assessment of your home, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from Appraisals Niagara Real Estate Appraisers Inc. is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, nearly all lenders ask home buyers to purchase this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't required when the leftover 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 implemented by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Appraisals Niagara Real Estate Appraisers Inc. can provide you with a statement regarding the value of your home, and the expense of the appraisal can generally 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 can be an especially traumatic event for both parties, and it is often even more complicated by the hard decision of who keeps the home. It's a good idea to get an appraisal from Appraisals Niagara Real Estate Appraisers Inc. so both parties are completely aware of the true market value of their home, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the fullest 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 handle these issues, unlike many 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 vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from none County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, along with information about any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — 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 can help you make a more informed decision regarding your asking price. Unlike 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 rest on our efforts to complete the appraisal report.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, 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.