Why you should order an appraisal
To many, an appraisal just looks like a line item in the long list of items for a mortgage or refinance. And even though there are a budding number of automated home valuation systems that might appear more economical than an appraisal, nearly all lenders still want a local expert because the stakes are so high. You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are additional cases when the services of a certified, independent real estate professional could be beneficial.
Contest your tax assessment in Howard County
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values have gone down in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. This additional payment is often folded into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Astute Appraisals, Inc. can provide you with a statement regarding the value of your home. The price you paid for the home valuation can usually be recovered 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 is an especially horrible experience for the parties involved, and it is often further complicated by the burdensome decision of who maintains the property. It's a good idea to order an appraisal from Astute Appraisals, Inc. so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an unequal 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 leave knowing they've gotten an honest deal.
Move to or from Howard County through an employee relocation program
We are familiar with the stress associated with an employee relocation. 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 features of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — for the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, seeking a professional appraisal is a trusted way to determine 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.