Let Astute Appraisals, Inc. take care of your appraisal needs
Each year, thousands of people in Maryland buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that may seem more cost-effective than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there other times when the services of a certified, independent real estate professional could come in handy? You bet there are.
Contest your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Astute Appraisals, Inc. is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask home owners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Astute Appraisals, Inc. can produce a statement regarding the value of your home. The price you paid for the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially traumatic event for both parties, and it is often further complicated by the difficult decision of who gets the home. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from Astute Appraisals, Inc., regardless of the circumstances.
If the parties want to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires 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 fullest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Howard County through an employee relocation program
We are aware of the stress associated with an employee relocation. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — at an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. 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 complete 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. And we're experts in knowing how long propertiesstay on the market. So, getting a professional appraisal is a trusted way to decide 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.