Why you should hire an appraiser
To a lot of us, an appraisal is simply another cost on the settlement sheet for a home sale or refinance. Practically all lenders still call in a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that may appear more economical than an appraisal. You might believe that getting a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be beneficial.
Appeal your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your house, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, nearly all lenders ask homebuyers to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually bundled 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 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.
If you'd like to eliminate PMI, REVARI (Real Estate Valuation and Research Inc.) can produce a statement regarding the value of your home. The cost of the home valuation can often 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 for divorce settlements
A divorce can be a particularly traumatic experience for both parties, and it is often even more complicated by the difficult decision of who gets the property. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from REVARI (Real Estate Valuation and Research Inc.), regardless of the circumstances.
The parties will have a good idea of what price to set, if they want to sell the home. 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 loss of a loved one is a difficult 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. We ensure the utmost 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 many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Sullivan County for work
We understand the stress involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide remarks on the positive features of their property, as well as information about any new 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 regarding your asking price, whether you choose 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 depend on our efforts to finish the appraisal report.
We examine 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 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, because we're experts in knowing how long properties are one the market.