Why you should order an appraisal
Thousands of people in New Hampshire purchase, sell or refinance their home every month. A lot of these transactions have a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation systems that may appear cheaper than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there other cases when the services of a licensed, independent real estate professional could come in handy? You bet there are.
Dispute your tax assessment
It's quite possible 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 house, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from REVARI (Real Estate Valuation and Research Inc.) is your best evidence when building your case. At REVARI (Real Estate Valuation and Research Inc.), we're equipped to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that most lenders ask homeowners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Very often, this additional payment is folded into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
REVARI (Real Estate Valuation and Research Inc.) can give you a statement regarding the value of your home, and the price you paid for 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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Settle a divorce with fewer hang-ups
A divorce can be a particularly horrible ordeal for both parties, and it is often further complicated by the strenuous decision of who gets the property. Regardless of the circumstances, 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 house.
If the parties wish 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 assessment.
Ascertain a fair and accurate valuation for estate liquidation
The loss 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Sullivan County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home quickly — at an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a reliable way to decide 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.