Reasons to order an appraisal from Community Appraisal
To many, an appraisal just looks like another fee in the long list of items for a mortgage or refinance. And while there are a multiplying number of automated home valuation systems that might seem less expensive than an appraisal, the majority of lenders still call in a local expert because the stakes are very high. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a licensed, independent real estate professional might be beneficial.
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 declined. Property taxes are based upon a previous assessment of your real estate, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Community Appraisal is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that nearly all lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Oftentimes, this additional payment is folded into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Community Appraisal will produce a statement regarding the value of your home, and the expense of the appraisal can often 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 strenuous decision of who gets the property, and it can be a particularly daunting occurrence for both parties. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Community Appraisal, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need 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.
Ascertain an accurate and fair valuation for 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Oakland County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, along with information about any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — at the right price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a reliable way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.