6 Reasons to consider an appraisal from A. M. Appraisals
Thousands of people in South Carolina purchase, sell or refinance their home each year. Most of these transactions have a simple line item for an appraisal. And even though there are a developing number of automated home valuation processes that may seem less expensive than an appraisal, practically all lenders still call for a local expert because the stakes are so high. You might think that getting a mortgage is the only reason to acquire an appraisal, but there are more situations when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment in Lexington County
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a previous assessment of your house, so if prices have declined in your area, 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.
Removing PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, almost all lenders ask homeowners to take out this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, A. M. Appraisals can give you a statement regarding the value of your home. The expense of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce can be a particularly daunting ordeal for both parties, and it is often even more complicated by the hard decision of who keeps the home. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from A. M. Appraisals, regardless of the situation.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten 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 entails 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.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these matters. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Lexington County for work
We are familiar with the headaches involved with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — at the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. 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 finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted 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, because we're experts in knowing how long houses are one the market.
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.