Reasons to order an appraisal
To many, an appraisal just looks like another fee on the settlement sheet for a home purchase or refinance. While there are a multiplying number of automated home valuation processes that might seem more prudent than an appraisal, the majority of lenders still want a local expert because the stakes are incredibly high. Is obtaining a mortgage the only basis for getting an appraisal? Are there also situations when the services of a certified, independent real estate professional might come in handy? You bet.
Dispute your tax assessment
If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask homeowners to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Since the extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remainder 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 dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, National Home Appraisal Corporation will provide you with a statement regarding the value of your home. The expense of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a very horrible experience for the parties involved, and it is often more complicated by the challenging decision of who keeps the house. Regardless of the circumstances, it's a good idea to order an appraisal from National Home Appraisal Corporation so both parties are entirely aware of the true market value of their house.
If the parties need to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these issues, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Worcester County through an employee relocation program
We are familiar with the headaches associated with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, along with information regarding any new sales or listings in their area that they want considered during our thorough inspection.
Close on your home promptly — at an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable way to determine 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, because we're experts in knowing how long homes are one the market.