Reasons to consider an appraisal from Community Appraisal

To a lot of us, an appraisal just looks like another fee in the long list of items for a home sale or refinance. And while there are an increasing number of automated home valuation systems that might appear to be more prudent than an appraisal, the majority of lenders still call for a local expert because the stakes are very high. Is securing a mortgage the only basis for getting an appraisal? Are there also times when the services of a certified, independent real estate professional might come in handy? Of course.

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Challenge your tax assessment in Oakland County

It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a previous assessment of your house, so if values have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in disputing your tax assessment.

Removing PMI for mortgage payments

When the amount being loaned to the home owneris more than 80% of the actual value of the property, nearly all lenders ask home owners to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Most often, this added payment is lumped into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Community Appraisal will give you a statement regarding the value of your home. The price you paid for the appraisal can generally be recovered in a short amount of time because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce can be a very traumatic ordeal for both parties, and it is often even more complicated by the difficult decision of who keeps the house. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from Community Appraisal, regardless of the situation.

If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.

Ascertain an accurate and fair valuation for estate liquidation

The loss of a loved one is a painful 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. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthier 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 leave knowing they've received a fair deal.

Move to or from Oakland County for work

We are aware of the stress involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive features of their property, along with information about any current sales or listings in their neighborhood that they want considered.

Close on your home quickly — at the right price

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. Apart from 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 analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a trusted 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.

Let Community Appraisal assist you in selling your home quickly at the right price