Reasons to get an appraisal
To many, an appraisal just looks like another cost on the settlement sheet for a home sale or refinance. Even though there are a developing number of automated home valuation systems that may seem more prudent than an appraisal, the majority of lenders still want a local expert because the stakes are very high. Is securing a mortgage the only basis for getting an appraisal? Are there other instances when the services of a certified, independent real estate professional might be helpful? You bet.
Appeal your tax assessment
If you are in an area where the property value 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 Barnes Appraisal Company, we're equipped to assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask home buyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. More often than not, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls 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 eliminate PMI, Barnes Appraisal Company will provide you with a statement regarding the value of your home. The cost of the appraisal can generally be offset in just a few months 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 troublesome decision of who keeps the property, and it can be a particularly horrible event for both parties. It's a good idea to get an appraisal from Barnes Appraisal Company so both parties are completely aware of the true market value of their property, regardless of the circumstances.
The parties will have a clearer picture 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 gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires 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 wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And since a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Comanche County through an employee relocation program
We know the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information about any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long houses are one the market.