Reasons to Get an Appraisal from Appraisals By Michael
To a lot of people, an appraisal just looks like another cost on the settlement sheet for a home sale or refinance. Almost all lenders still want a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that might appear less expensive than an appraisal. But is securing a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be beneficial? Of course there are.
|If you're planning on any transaction where the value of your house is a factor, contact Appraisals By Michael. Just click here.|
Challenge your tax assessment in Fulton County
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Appraisals By Michael is your best evidence when building your case. At Appraisals By Michael, we're equipped to assist you in appealing your tax assessment.
When the amount being loaned to the homeowner is more than 80% of the actual value of the property, nearly all lenders ask buyers to purchase an added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress requiring lenders to do away with the PMI installments when the balance is paid down to 78% of the original value.
If you'd like to eliminate PMI, Appraisals By Michael will produce a statement regarding the value of your home. The cost of the appraisal can generally be regained in little time because you'll no longer be paying the PMI.
A divorce is often complicated by the hard decision of who keeps the property, and it can be an especially traumatic ordeal for both parties. Regardless of the circumstances, it's prudent to get an appraisal from Appraisals By Michael so both parties are completely aware of the true market value of their house.
If the parties wish to sell the home, they'll have a clearer picture 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.
Losing 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 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 manage these affairs, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Employee relocation is a more than just an inconvenience. We know where you're coming from! That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered during our detailed process.
Contact us today so that we can start on your home appraisal in Atlanta.