Reasons to get an appraisal
To many, an appraisal just looks like one more thing on the settlement sheet for a mortgage or refinance. Even though there are a growing number of automated home valuation processes that may seem more prudent than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a certified, independent real estate professional could be beneficial.
Dispute your tax assessment
If you reside 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 can assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, many lenders ask homebuyers to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, True Value Appraisal Services will give you a statement regarding the value of your home. The expense of the home valuation can generally be recovered in just a few months 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 is a particularly horrible event for the parties involved, and it is often further complicated by the difficult decision of who maintains the property. Regardless of the situation, it's a good idea to order an appraisal from True Value Appraisal Services so both parties are completely aware of the true market value of their home.
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 received a fair evaluation.
Ascertain an accurate and fair valuation for 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Montgomery County for work
We are familiar with the stress associated with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — for the right price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. Apart from 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 are calculated on our efforts to complete the appraisal report.
We analyze 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 properties are one the market.