Reasons to get an appraisal
Thousands of people in South Carolina buy, sell or refinance their home every month. Most of these transactions have a simple line item for an appraisal. The majority of lenders still want a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation processes that may appear to be more practical than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there more situations when the services of a certified, independent real estate professional could be beneficial? You bet.
Dispute your tax assessment in Lexington County
If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from A. M. Appraisals is your best evidence when building your case. At A. M. Appraisals, we're qualified to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that many lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI is unnecessary when the remainder 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 requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
A. M. Appraisals will produce a statement regarding the value of your home, and the expense of the appraisal can generally be recovered in little time 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 strenuous decision of who gets the property, and it can be an especially daunting occurrence for both parties. It's a good idea to get an appraisal from A. M. Appraisals so both parties are fully aware of the true market value of their property, regardless of the situation.
The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. 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 vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Lexington County for work
We are familiar with the stress associated with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information about any current sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — 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 more informed decision regarding your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, getting a professional appraisal is a trusted way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.
Do you need some extra cash?
We can determine the value of your property so that the bank or mortgage company of your choice will know how much money to loan you. This is typically an essential step in the loan process.