Why you should get an appraisal
To many, an appraisal is simply one more thing on the break-sheet for a home sale or refinance. Practically all lenders still call for a local expert because the stakes are so high, even though there are a growing number of automated home valuation systems that might appear less expensive than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are more cases when the services of a certified, independent real estate professional might be beneficial.
Challenge your tax assessment in Hampden County
If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from Race Appraisal Services, LLC is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the home. Seeing that extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't necessary when the leftover balance 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 invoked by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Race Appraisal Services, LLC can produce a statement regarding the value of your home. The expense of the home valuation can often be offset 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 take make a divorce settlement less stressful
A divorce is a very daunting experience for the parties involved, and it is often more complicated by the burdensome decision of who keeps the property. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from Race Appraisal Services, LLC, regardless of the situation.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And on the flip side, 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 calls for 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 take care of these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Hampden 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. During our detailed inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, along with information about any recent sales or listings in their area that they want considered.
Close on your home promptly — at the right price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you choose 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 are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted 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, because we're experts in knowing how long properties are one the market.
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