Reasons to choose an appraisal from First Appraisal Services
To a lot of us, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. And even though there are a growing number of automated home valuation systems that might appear more economical than an appraisal, the majority of lenders still call in a local expert because the stakes are very high. Is getting a mortgage the only reason to get an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be beneficial? You bet.
Appeal your tax assessment
If you reside in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from First Appraisal Services is your best evidence when building your case. At First Appraisal Services, we're equipped to assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, almost all lenders ask home buyers to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, First Appraisal Services can provide you with a statement regarding the value of your home. The cost of the home valuation can generally be offset 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 difficult decision of who gets the home, and it can be an especially traumatic occurrence for both parties. Regardless of the situation, it's a good idea to get an appraisal from First Appraisal Services so both parties are fully aware of the true market value of their home.
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 assessment.
Fair and accurate estate liquidation
The loss 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 utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike many wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, 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 Will County for work
We are familiar with the headaches involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, along with information about any current sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — at an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, obtaining 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.