Reasons to hire an appraiser

To a lot of us, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. The majority of lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation methods that may appear to be less expensive than an appraisal. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are more cases when the services of a certified, independent real estate professional might be helpful.

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Appeal your tax assessment

It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a past assessment of your house, so if values have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Race Appraisal Services, LLC, we're capable of assisting you in appealing your tax assessment.

PMI removal to lower a mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. More often than not, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes 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 do away with 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 will produce a statement regarding the value of your home. The price you paid for the appraisal can often 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 is a very traumatic experience for the parties involved, and it is often further complicated by the challenging decision of who gets the property. 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 home, regardless of the circumstances.

If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Determine a fair and accurate 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 calls for 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 utmost degree of discretion.

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these matters. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.

Relocate to or from Hampden County for work

Employee relocation is a stressful event, and we understand. 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 feedback on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered.

Sell your home promptly — at the right price

A professional appraisal can help you make a more informed decision when determining your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.

On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, obtaining a professional appraisal is a reliable 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.

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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