Reasons to choose an appraisal from Residential Appraisal Service, LLC
To a lot of people, an appraisal just looks like another cost in the long list of items for a mortgage or refinance. Almost all lenders still call for a local expert because the stakes are so high, even though there are a budding number of automated home valuation processes that might appear more practical than an appraisal. You might think that getting a mortgage is the only reason to acquire an appraisal, but there are other situations when the services of a licensed, independent real estate professional might be beneficial.
Appeal your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from Residential Appraisal Service, LLC is your best evidence when building your case. We can assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homeowners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. This additional payment is often folded into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Residential Appraisal Service, LLC can produce a statement regarding the value of your home. The expense of the appraisal can generally be regained in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be an especially horrible event for both parties, and it is often more complicated by the challenging decision of who keeps the house. It's a good idea to get an appraisal from Residential Appraisal Service, LLC so both parties are fully aware of the true market value of their property, regardless of the circumstances.
The parties will have a a good idea 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.
Fair and accurate estate liquidation
Losing 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 highest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Frederick County through an employee relocation program
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 characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — for the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
We analyze 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 propertiesare on the market. So, 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.