Let Race Appraisal Services, LLC handle your appraisal needs
To a lot of us, an appraisal is simply another cost on the settlement sheet for a home purchase or refinance. And even though there are an increasing number of automated home valuation methods that might appear to be more economical than an appraisal, nearly all lenders still need a local expert because the stakes are very high. Is securing a mortgage the only reason to acquire an appraisal? Are there other instances when the services of a certified, independent real estate professional could be beneficial? Absolutely.
Appeal your tax assessment
If you are in an area where the value of property has 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. At Race Appraisal Services, LLC, we're equipped to assist you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, almost all lenders ask home buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Race Appraisal Services, LLC will produce a statement regarding the value of your home, and the expense of the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be an especially horrible event for both parties, and it is often even more complicated by the burdensome decision of who maintains the property. Regardless of the circumstances, it's a good idea to order an appraisal from Race Appraisal Services, LLC so both parties are entirely aware of the true market value of their house.
If the parties need 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 evaluation.
Ascertain an accurate and fair valuation for 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 Fair Market Value for the real estate involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Hampden County for work
We are familiar with the headaches associated with an employee relocation. That's why 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 intensive inspection.
Close on your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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, because we're experts in knowing how long houses stay on the market.
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