Why you should get an appraisal
Each year, thousands of people in Idaho purchase, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation methods that might appear less expensive than an appraisal. You might believe that getting a mortgage is the only reason to get an appraisal, but there are other situations when the services of a licensed, independent real estate professional could come in handy.
Dispute your tax assessment
It's 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 prices have declined in your area, you can appeal your assessment and save money. An appraisal from Anderson Appraisals is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Most often, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Anderson Appraisals can produce a statement regarding the value of your home. The expense of the home valuation can generally be recovered in a short amount of 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 can be a very horrible experience for both parties, and it is often more complicated by the troublesome decision of who gets the property. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Anderson Appraisals, regardless of the circumstances.
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 gotten a fair evaluation.
Fair and accurate estate liquidation
The loss of 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.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Kootenai County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive aspects of their property, as well as information about any current sales or listings in their area that they want considered.
Sell your home promptly — at the right price
A professional appraisal will help you make a better educated decision regarding 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, apart from real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, obtaining a professional appraisal is a trusted 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.