Reasons to hire an appraiser
To many, an appraisal is simply a line item in the long list of items for a home sale or refinance. And even though there are a developing number of automated home valuation processes that may appear to be less expensive than an appraisal, almost all lenders still call for a local expert because the stakes are very high. You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are additional instances when the services of a certified, independent real estate professional could be beneficial.
Appeal your tax assessment
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from RJE Real Estate Appraisal Service is your best evidence when building your case. We can assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Very often, this extra payment is folded into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't necessary 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 invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
RJE Real Estate Appraisal Service can give you a statement regarding the value of your home, and the expense 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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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce can be a very daunting experience for both parties, and it is often further complicated by the difficult decision of who gets the house. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from RJE Real Estate Appraisal Service, regardless of the situation.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for 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, ensuring the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Washtenaw County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our thorough 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 regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare 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.