Let Astute Appraisals, Inc. handle your appraisal needs
Every year, thousands of people in Maryland buy, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that might seem more economical than an appraisal. You might assume that getting a mortgage is the only reason to get an appraisal, but there are other situations when the services of a licensed, independent real estate professional might come in handy.
Contest 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're qualified to assist you in disputing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask homebuyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. More often than not, this added payment is folded into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Astute Appraisals, Inc. will provide you with a statement regarding the value of your home, and the cost of the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is an especially traumatic event for the parties involved, and it is often more complicated by the strenuous decision of who keeps the home. 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 assessment.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. And seeing that 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 gotten a fair deal.
Relocate to or from Howard County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, obtaining 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.