6 Reasons you should order an appraisal from Astute Appraisals, Inc.
Thousands of people in Maryland purchase, sell or refinance their home every month. Many of these transactions consist of a simple line item for an appraisal. While there are a growing number of automated home valuation methods that may seem more practical than an appraisal, the majority of lenders still want a local expert because the stakes are incredibly high. You might believe that getting a mortgage is the only basis for getting an appraisal, but there are more cases when the services of a certified, independent real estate professional could be helpful.
Dispute your tax assessment
If you live in an area where the value of property 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.
Removing 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 homebuyer is more than 80% of the actual value of the real estate. More often than not, this additional payment is folded into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Astute Appraisals, Inc. can produce a statement regarding the value of your home, and the expense of the appraisal can often be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a very daunting ordeal for both parties, and it is often further complicated by the hard decision of who keeps the property. So both parties are fully aware of the true market value of their property, it's a good idea to order an appraisal from Astute Appraisals, Inc., regardless of the circumstances.
If the parties want to sell the home, they'll have a clearer picture 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 evaluation.
Fair and accurate 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 residential property involved. We guarantee the highest 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 issues, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Howard County through an employee relocation program
We know the headaches involved with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable 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 homes are one the market.