Why you should get an appraisal

Thousands of people in Massachusetts buy, sell or refinance their home every month. Most of these transactions contain a simple line item for an appraisal. Nearly all lenders still want a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that might appear more economical than an appraisal. You might assume that getting a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a certified, independent real estate professional could be helpful.

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Dispute your tax assessment

If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Race Appraisal Services, LLC, we're equipped to assist you in challenging 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 real estate, most lenders ask home owners to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

Race Appraisal Services, LLC will give you a statement regarding the value of your home, and the price you paid for the home valuation can usually be recovered in a short amount of 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 a particularly traumatic experience for both parties, and it is often more complicated by the strenuous decision of who keeps the house. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Race Appraisal Services, LLC, regardless of the situation.

If the parties need to sell the home, they'll have a better 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 gotten a fair assessment.

Ascertain a fair and accurate valuation for estate liquidation

The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. 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 significant importance to ensuring disputing parties leave knowing they've received a fair deal.

Relocate to or from Hampden County through an employee relocation program

We are aware of the headaches involved with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive features of their property, as well as information about any new sales or listings in their area that they want considered.

Sell your home quickly — for an accurate price

Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.

On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. 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, because we're experts in knowing how long homes stay on the market.

Let Race Appraisal Services, LLC assist you in selling your home quickly at the right price

Got a Question?

Do you have a question relating to real estate appraisals? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

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