Reasons to order an appraisal from Andel Appraisals
To a lot of us, 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 growing number of automated home valuation processes that might seem more prudent than an appraisal, nearly all lenders still want a local expert because the stakes are very high. You might believe that securing a mortgage is the only basis for getting an appraisal, but there are other times when the services of a licensed, independent real estate professional might be beneficial.
Contest your tax assessment
If you are in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Andel Appraisals is your best evidence when building your case. We can assist you in appealing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homebuyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often 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% level, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Andel Appraisals can give you a statement regarding the value of your home, and the price you paid for the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce can be an especially traumatic experience for both parties, and it is often further complicated by the hard decision of who keeps the property. It's a good idea to get an appraisal from Andel Appraisals so both parties are entirely aware of the true market value of their house, regardless of the situation.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Cook County for work
We are familiar with the stress associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered.
Sell your home promptly — at the right price
A professional appraisal can help you make a more informed decision when determining your asking 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 amount the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a reliable way to determine 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 houses stay on the market.