Reasons to order an appraisal from Astute Appraisals, Inc.
Each year, thousands of people in Maryland purchase, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. Even though there are an increasing number of automated home valuation methods that may appear to be more economical than an appraisal, almost all lenders still want a local expert because the stakes are so high. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are other instances when the services of a certified, independent real estate professional might be helpful.
Appeal your tax assessment
If you reside 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 Astute Appraisals, Inc., we're qualified to assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, most lenders ask buyers to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Astute Appraisals, Inc. will give you a statement regarding the value of your home. The cost of the appraisal can generally be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a particularly horrible experience for both parties, and it is often further complicated by the hard decision of who gets the property. It's a good idea to order an appraisal from Astute Appraisals, Inc. so both parties are completely aware of the true market value of their house, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need 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.
Ascertain 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 entails an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Howard County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough 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.
Sell your home quickly — at an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a reliable way to decide 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 homes stay on the market.