Why you should order an appraisal
Each year, thousands of people in Maryland purchase, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are so high, even though there are a budding number of automated home valuation methods that may appear to be more practical than an appraisal. You might think that securing a mortgage is the only basis for getting an appraisal, but there are more times when the services of a certified, independent real estate professional might be helpful.
Challenge your tax assessment in Frederick County
If you are in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, many lenders ask homeowners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is damaging because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress 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, Residential Appraisal Service, LLC can give you a statement regarding the value of your home. The cost of the appraisal can often be regained in little time 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 a very traumatic ordeal for both parties, and it is often even more complicated by the burdensome decision of who gets the house. It's a good idea to order an appraisal from Residential Appraisal Service, LLC so both parties are entirely aware of the true market value of their property, regardless of the circumstances.
If the parties want to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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 fullest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Frederick County for work
We are aware of the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide input on the positive characteristics of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Close on your home quickly — for 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 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 are calculated on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things like an extra 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 reliable way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.