Why you should hire an appraiser
To many, an appraisal just looks like one more thing on the break-sheet for a home sale or refinance. And even though there are an increasing number of automated home valuation systems that might appear more cost-effective than an appraisal, almost all lenders still call for a local expert because the stakes are so high. You might think that getting a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your home, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, almost all lenders ask home owners to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
REVARI (Real Estate Valuation and Research Inc.) will give you a statement regarding the value of your home, and the cost of the home valuation can usually be recovered in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is a very daunting ordeal for the parties involved, and it is often even more complicated by the challenging decision of who keeps the house. It's a good idea to order an appraisal from REVARI (Real Estate Valuation and Research Inc.) so both parties are fully aware of the true market value of their home, regardless of the situation.
The parties will have a better idea 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.
Ascertain a fair and accurate valuation for estate liquidation
Losing 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Sullivan County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, along with information about any recent sales or listings in their area that they want considered.
Close on your home quickly — at the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted 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 homes stay on the market.