Reasons to get an appraisal

To a lot of us, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. The majority of lenders still want a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that may appear to be more practical than an appraisal. But is securing a mortgage the only reason to acquire an appraisal? Are there additional situations when the services of a certified, independent real estate professional could come in handy? You bet.

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Dispute your tax assessment in Lee, Collier, Miami Dade, Broward Counties

It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Residential Real Estate Appraisers, Inc is your best evidence when building your case. At Residential Real Estate Appraisers, Inc,we can assist you in appealing your tax assessment.

Residential Real Estate Appraisers, Inc can help you get rid of PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented 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.

Residential Real Estate Appraisers, Inc will provide you with a statement regarding the value of your home, and the cost of the home valuation can generally be regained in just a few months because you'll no longer be paying the PMI.

Divorce settlement with less stress

A divorce is often complicated by the burdensome decision of who maintains the home, and it can be a particularly heartbreaking ordeal for both parties. So both parties are entirely aware of the true market value of their house, it's a good idea to order an appraisal from Residential Real Estate Appraisers, Inc, regardless of the situation.

The parties will have a better idea of what price to set, if they wish 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 evaluation.

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 requires an appraisal to establish Market Value for the residential property involved. We ensure the fullest 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 wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.

Residential Real Estate Appraisers, Inc can assist you in relocating to or from Lee, Collier, Miami Dade, Broward Counties

Moving due to a job change can be a real pain, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our intensive process.

Don't sell out short or keep your home on the market too long.

A professional appraisal will help you make a more informed decision when determining your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Separate from a real estate agent, an appraiser has no vested interest in what price the house sells for. The price we charge isn't contingent upon the value opinion we render, but rather they are calculated on our efforts to complete the appraisal.

We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to determine 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 - because we're experts in knowing how long properties stay on the market.