Reasons to order an appraisal from Race Appraisal Services, LLC
To a lot of us, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. And even though there are a multiplying number of automated home valuation processes that may appear to be more cost-effective than an appraisal, almost all lenders still need a local expert because the stakes are very high. Is securing a mortgage the only reason you should get an appraisal? Are there additional situations when the services of a certified, independent real estate professional might be beneficial? Absolutely.
Dispute your tax assessment
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. We can assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, almost all lenders ask home owners to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often folded into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls 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 installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Race Appraisal Services, LLC can provide you with a statement regarding the value of your home. The expense of the appraisal can usually be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the difficult decision of who gets the property, and it can be a very horrible ordeal for both parties. It's a good idea to get an appraisal from Race Appraisal Services, LLC so both parties are completely aware of the true market value of their house, regardless of the circumstances.
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 received a fair assessment.
Accurate and fair estate liquidation
The loss of a loved one is a hard 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 maximum degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. 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 essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Hampden County for work
We understand the headaches involved with an employee relocation. That's why we take great care in setting up 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, along with information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — at 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, unlike real estate agents. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate 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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