Reasons to order an appraisal from Herrin Appraisal Company
To a lot of us, an appraisal just looks like another fee in the long list of items for a home sale or refinance. Even though there are a budding number of automated home valuation processes that might seem more practical than an appraisal, nearly all lenders still call in a local expert because the stakes are very high. Is getting a mortgage the only reason to acquire an appraisal? Are there other situations when the services of a licensed, independent real estate professional might be helpful? Of course.
Challenge your tax assessment in Forsyth County
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Herrin Appraisal Company is your best evidence when building your case. At Herrin Appraisal Company, we're capable of assisting you in disputing your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, nearly all lenders ask homebuyers to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Herrin Appraisal Company can give you a statement regarding the value of your home, and the price you paid for the home valuation can generally be regained in just a few months 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 is often complicated by the burdensome decision of who gets the house, and it can be a very traumatic occurrence for both parties. It's a good idea to order an appraisal from Herrin Appraisal Company so both parties are entirely aware of the true market value of their home, regardless of the situation.
If the parties wish to sell the home, they'll have a better idea of what price to set. And 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 difficult 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. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike many wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value 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 Forsyth County for work
We are aware of the stress involved 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 characteristics of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — at an accurate price
A professional appraisal can help you make a more informed decision when determining your selling price, whether you want 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 complete the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 homes are one the market.
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