Reasons to order an appraisal from Race Appraisal Services, LLC
To many, an appraisal is simply one more thing on the break-sheet for a home purchase or refinance. The majority of lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that may appear more practical than an appraisal. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are more instances when the services of a licensed, independent real estate professional could be beneficial.
Challenge your tax assessment in Hampden County
If you live 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. We can assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, almost all lenders ask home buyers to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is folded into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Race Appraisal Services, LLC can provide you with a statement regarding the value of your home. The cost of the home valuation can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be a particularly traumatic ordeal for both parties, and it is often more complicated by the hard decision of who gets the property. It's a good idea to order an appraisal from Race Appraisal Services, LLC so both parties are fully aware of the true market value of their property, regardless of the circumstances.
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 gotten a fair evaluation.
Fair and accurate estate liquidation
The loss 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 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 wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. And seeing that a home or other property often makes up an uneven share of the total estate value, 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 are aware of the stress involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Close on your home quickly — for the right price
Whether you want 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 when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they are based 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. Obtaining a professional appraisal is a trusted way to determine 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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