Why you should order an appraisal from A. M. Appraisals
To a lot of us, an appraisal just looks like another fee on the settlement sheet for a home purchase or refinance. Practically all lenders still call in a local expert because the stakes are very high, even though there are a growing number of automated home valuation systems that might seem more prudent than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there also instances when the services of a licensed, independent real estate professional might be beneficial? You bet.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your house, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from A. M. Appraisals is your best evidence when building your case. We can assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, many lenders ask homebuyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is damaging 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 invoked by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
A. M. Appraisals can produce a statement regarding the value of your home, and the cost of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the challenging decision of who keeps the property, and it can be a very horrible occurrence for both parties. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from A. M. Appraisals, regardless of the circumstances.
If the parties wish to sell the home, they'll have a better 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 gotten a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a difficult 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, guaranteeing the fullest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth 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 Lexington County for work
We understand the headaches involved with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information regarding any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home quickly — for the right price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you want 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, apart from real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, obtaining a professional appraisal is a reliable 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.
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.