Why you should get an appraisal
Every year, thousands of people in Idaho buy, sell or refinance their home. Many of these transactions include a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that may appear to be more economical than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there also situations when the services of a certified, independent real estate professional might come in handy? You bet there are.
Contest your tax assessment in Kootenai County
If you are in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Anderson Appraisals, we're capable of assisting you in challenging your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, most lenders ask homebuyers to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. This is bad because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Anderson Appraisals can provide you with a statement regarding the value of your home. The expense of the home valuation can usually be offset in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is often complicated by the burdensome decision of who gets the home, and it can be a very traumatic occurrence for both parties. Regardless of the situation, it's a good idea to get an appraisal from Anderson Appraisals so both parties are entirely aware of the true market value of their property.
The parties will have a clearer picture of what price to set, if they wish 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 assessment.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often entails 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 fullest degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an uneven 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 leave knowing they've gotten an honest deal.
Relocate to or from Kootenai County for work
We know the stress associated with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, getting 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 an unnecessarily long time.