6 Reasons to order an appraisal from Mitchell Appraisals
To many, an appraisal is simply a line item in the long list of items for a home purchase or refinance. Almost all lenders still need a local expert because the stakes are so high, even though there are an increasing number of automated home valuation methods that might appear to be more cost-effective than an appraisal. You might believe that securing a mortgage is the only basis for getting an appraisal, but there are additional instances when the services of a licensed, independent real estate professional could be helpful.
Appeal your tax assessment in Santa Rosa County
If you are 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're capable of assisting you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, most lenders ask home owners to purchase this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Mitchell Appraisals will provide you with a statement regarding the value of your home, and the expense of the appraisal can usually be offset 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 even more complicated by the strenuous decision of who keeps the property. It's a good idea to get an appraisal from Mitchell Appraisals so both parties are fully aware of the true market value of their property, regardless of the situation.
If the parties want 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 assessment.
Determine a fair and accurate valuation for estate liquidation
The loss 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Santa Rosa County through an employee relocation program
We are aware of the headaches associated with an employee relocation. We take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information about any recent sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — for an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you choose to sell your home on your own or use the assistance 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 are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, seeking 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.