Reasons someone would hire Race Appraisal Services, LLCEach year, thousands of people in Massachusetts buy, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. Nearly all lenders still call in a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that may seem more economical than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment in Hampden CountyIt's likely you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a previous assessment of your real estate, so if values have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from Race Appraisal Services, LLC is your best evidence. At Race Appraisal Services, LLC, we're equipped to assist you in appealing your tax assessment.
PMI removal to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask home buyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Oftentimes, this added payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress that requires lenders to eliminate the PMI payments when the balance is paid down to 78% of the original value.
Race Appraisal Services, LLC will produce a statement regarding the value of your home, and the expense of the home valuation can usually be offset in little time because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce can be a particularly traumatic experience for both parties, and it is often even more complicated by the troublesome decision of who maintains the property. Regardless of the situation, it's prudent to get an appraisal from Race Appraisal Services, LLC so both parties are entirely aware of the true market value of their property.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Settling an estate with peace of mindLosing a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. 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 vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocating to or from Hampden CountyWe know the stress involved 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 characteristics of their property, as well as information regarding any recent sales or listings in their area that they want considered during our thorough process.
Sell your home quickly at the right priceWhether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, which is different than the interest of real estate agents. The price we charge isn't related to the sales price, but rather they are based on our efforts to complete the appraisal.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. 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 homes stay on the market.
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