Reasons to order an appraisal from Anderson Appraisals
Every year, thousands of people in Idaho purchase, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. While there are an increasing number of automated home valuation processes that might appear to be more economical than an appraisal, most lenders still call in a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to get an appraisal? Are there other times when the services of a certified, independent real estate professional could be helpful? Absolutely.
Appeal your tax assessment in Kootenai County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your home, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from Anderson Appraisals is your best evidence when building your case. At Anderson Appraisals, we're capable of assisting you in challenging 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 real estate, many lenders ask homeowners to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is bad 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 United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Anderson Appraisals will give you a statement regarding the value of your home, and the price you paid for the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the hard decision of who gets the house, and it can be an especially traumatic occurrence for both parties. It's a good idea to order an appraisal from Anderson Appraisals so both parties are entirely 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 on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate 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 utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Kootenai County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive features of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate 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 more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, getting a professional appraisal is a reliable way to determine what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.