6 Reasons to consider an appraisal from Herrin Appraisal Company
To many, an appraisal just looks like a line item on the break-sheet for a home purchase or refinance. Even though there are a growing number of automated home valuation methods that might appear to be less expensive than an appraisal, almost all lenders still call in a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional situations when the services of a certified, independent real estate professional could be beneficial.
Appeal your tax assessment in Forsyth County
It's quite 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 previous assessment of your house, so if prices have declined in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Herrin Appraisal Company, we're equipped to assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, almost all lenders ask buyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMI isn't required when the remaining 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 passed by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Herrin Appraisal Company can produce a statement regarding the value of your home, and the expense of the home valuation can generally be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a very traumatic ordeal for both parties, and it is often more complicated by the hard decision of who maintains the house. It's a good idea to get an appraisal from Herrin Appraisal Company so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
Losing 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. We ensure the fullest 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 handle these issues, unlike many wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Forsyth County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive features of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
Close on your home quickly — at the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable way to determine 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, because we're experts in knowing how long houses are one the market.
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