Reasons you should order an appraisal from A.M. Appraisal
To a lot of us, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. Most lenders still want a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation methods that might appear more prudent than an appraisal. You might believe that getting a mortgage is the only reason to get an appraisal, but there are more situations when the services of a licensed, independent real estate professional could come in handy.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a previous assessment of your house, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At A.M. Appraisal, we're capable of assisting you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that nearly all lenders ask homebuyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
A.M. Appraisal can give you a statement regarding the value of your home, and the price you paid for the home valuation can generally be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the difficult decision of who gets the property, and it can be a particularly traumatic ordeal for both parties. It's a good idea to order an appraisal from A.M. Appraisal so both parties are completely aware of the true market value of their home, regardless of the situation.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Fair and accurate estate liquidation
The death 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. We ensure the maximum 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 take care of these issues, unlike many wealthy individuals. A home or other property often makes up an unequal 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 Orange County for work
Employee relocation is a stressful event, and we understand. 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 aspects of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home quickly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. 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 finish the appraisal report.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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.