Reasons to get an appraisal

Each year, countless people buy, sell or refinance their own piece of the American Dream. The process has many steps to fullfil with one of the most important steps being an appraisal. And even though there are a growing number of automated home valuation methods that may appear more practical than an appraisal, almost all lenders still call for a local expert because the stakes are very high. You might also assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are more times when the services of a licensed, certified real estate professional might be helpful.


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Challenge your tax assessment

If you live 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 independent appraisal is your best evidence. At ABC Appraisals, LLC., we're equipped to assist you in appealing your tax assessment.

ABC Appraisals, LLC. can help you do away with PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI payments on most mortgages when the balance is paid down to 78% of the original value.

ABC Appraisals, LLC. will provide you with a statement regarding the value of your home, and the price you paid for the appraisal can often be regained in just a few months because you'll no longer be paying the PMI.

Divorce Settlement

A divorce is a particularly traumatic experience for the parties involved, and is often further complicated by the strenuous decision of "Who gets the house?" In most divorce cases, the Court won't usually force the parties involved to "buyout" the other's interest but it may, however, order the sale of the home so that each party gets their equal share. Regardless of the situation, it's wise to order an appraisal so that both parties are fully aware of what the true market value is.

The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Accurate and fair estate liquidation

The loss 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 Market Value for the real estate involved. We guarantee the highest 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 manage these issues, unlike wealthy individuals. And since a home or other property often makes up a lion's share of the total estate value, knowing the certain value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.

ABC Appraisals, LLC. can assist you in relocating to or from the area

Moving due to a job change is a real pain. We know where you're coming from. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed process, we suggest relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any new sales or listings in their area that they want considered.

Sell your home quickly at the right price

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 amount the house sells for, which is different than the interest of real estate agents. Our fees aren't contingent upon the value we come up with, but rather they depend on our efforts to finish the appraisal.

On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homes stay on the market. So, seeking a professional appraisal is a trusted way to decide 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 too long, costing you time and money.