Why you should get an appraisal
To a lot of us, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. While there are a multiplying number of automated home valuation processes that may appear cheaper than an appraisal, almost all lenders still need a local expert because the stakes are very high. You might assume that securing a mortgage is the only reason to acquire an appraisal, but there are other times when the services of a certified, independent real estate professional could be helpful.
Appeal your tax assessment in Lexington County
If you are in an area where the value of property has 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 capable of assisting you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask home buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, A. M. Appraisals will provide you with a statement regarding the value of your home. The expense of the home valuation can often be regained 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 a particularly horrible ordeal for the parties involved, and it is often even more complicated by the difficult decision of who gets the house. 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 house, regardless of the situation.
If the parties wish to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death of a loved one is a hard 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. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. 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 an honest deal.
Move to or from Lexington County for work
We are familiar with the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive features of their property, as well as information about any current sales or listings in their area that they want considered.
Sell your home quickly — for an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
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 housesare on the market. So, seeking 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.