6 Reasons to order an appraisal from
Year after year, thousands of people in purchase, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. Even though there are a multiplying number of automated home valuation processes that might seem more prudent than an appraisal, practically all lenders still need a local expert because the stakes are very high. Is securing a mortgage the only reason to acquire an appraisal? Are there other times when the services of a certified, independent real estate professional might be beneficial? Of course there are.
Contest your tax assessment in Cook County
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from is your best evidence when building your case. We can assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, most lenders ask homeowners to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is soon forgotten. This is bad because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
will give you a statement regarding the value of your home, and the expense of 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 fewer hang-ups
A divorce is often complicated by the hard decision of who keeps the house, and it can be a very traumatic occurrence for both parties. So both parties are fully aware of the true market value of their home, it's a good idea to order an appraisal from , regardless of the situation.
If the parties need 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.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a hard 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. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. 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 walk away knowing they've gotten a fair deal.
Relocate to or from Cook County through an employee relocation program
We understand the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at an accurate 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 with the help 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 related to the sales price, but rather they rest on our efforts to complete the appraisal report.
We analyze the difference in value items like an additional 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 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, because we're experts in knowing how long homes are one the market.