Reasons to get an appraisal from A. M. Appraisals
To many, an appraisal just looks like another fee on the break-sheet for a home sale or refinance. And even though there are an increasing number of automated home valuation systems that may appear more economical than an appraisal, most lenders still call in a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional times when the services of a certified, independent real estate professional could be helpful.
Contest your tax assessment in Lexington County
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your real estate, so if values have declined in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At A. M. Appraisals, we're capable of assisting you in appealing your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, almost all lenders ask buyers to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, A. M. Appraisals can produce a statement regarding the value of your home. The price you paid for the appraisal can often be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be a very daunting event for both parties, and it is often even more complicated by the troublesome decision of who maintains the home. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from A. M. Appraisals, regardless of the circumstances.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires 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 utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Lexington County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive characteristics of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — for 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 better educated decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine 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 propertiesstay 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.