Why you should get an appraisal from Race Appraisal Services, LLC
Each year, thousands of people in Massachusetts purchase, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. The majority of lenders still want a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation methods that may seem cheaper than an appraisal. You might think that getting a mortgage is the only reason to acquire an appraisal, but there are additional instances when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment in Hampden County
If you are in an area where the property value has declined, 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 qualified to assist you in challenging your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Very often, this added payment is folded into the monthly mortgage payment and is quickly forgotten. This is damaging 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 that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Race Appraisal Services, LLC will produce a statement regarding the value of your home. The expense of the appraisal can often be offset in little time because you'll no longer be paying the PMI.
Get your appraisal from Race Appraisal Services, LLCOrder today
Settle a divorce with fewer hang-ups
A divorce is a particularly daunting event for the parties involved, and it is often more complicated by the burdensome decision of who gets the property. It's a good idea to get an appraisal from Race Appraisal Services, LLC so both parties are fully aware of the true market value of their property, regardless of the situation.
The parties will have a better idea of what price to set, if they want 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 assessment.
Fair and accurate estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Hampden County through an employee relocation program
We understand the headaches involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive features of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
Sell your home promptly — at the right price
Whether you decide 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 when determining your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable 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 houses are one the market.
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