Reasons to get an appraisalYear after year, thousands of people in Georgia buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation methods that may appear to be cheaper than an appraisal. But is obtaining a mortgage the only reason to get an appraisal? Are there also instances when the services of a licensed, independent real estate professional might be beneficial? Of course there are.
Challenge your tax assessment in Fayette CountyIf you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Dearing & Associates Appraisal Services is your best evidence when building your case. At Dearing & Associates Appraisal Services,we can assist you in disputing your tax assessment.
Dearing & Associates Appraisal Services can help you do away with PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an extra insurance policy that many lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. This added payment is often folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI becomes unnecessary when the remainder 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 approved by the United States Congress that requires lenders to do away with the PMI payments when the balance is paid down to 78% of the original value.
Dearing & Associates Appraisal Services can give you a statement regarding the value of your home, and the price you paid for the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce can be a particularly daunting experience for both parties, and it is often further complicated by the strenuous decision of who maintains the home. It's a good idea to order an appraisal from Dearing & Associates Appraisal Services so both parties are entirely aware of the true market value of their property, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Settling an estate with peace of mindLosing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish 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 maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so 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.
Relocating to or from Fayette County?Employee relocation can be a real pain, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed process.
Don't sell out short or let your home stay on the market too long.A professional appraisal can help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, which is different than the interest of real estate agents. The price we charge isn't contingent upon the value opinion we render, but rather they are calculated on our efforts to finish the appraisal.
We examine 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 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 - because we're experts in knowing how long homes stay on the market.