Reasons to order an appraisal from Race Appraisal Services, LLC
Thousands of people in Massachusetts purchase, sell or refinance their home every year. Many of these transactions consist of a simple line item for an appraisal. And even though there are an increasing number of automated home valuation systems that may seem more cost-effective than an appraisal, practically all lenders still need a local expert because the stakes are incredibly high. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a certified, independent real estate professional might be beneficial.
Challenge your tax assessment in Hampden County
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Race Appraisal Services, LLC is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, many lenders ask home owners to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Race Appraisal Services, LLC can provide you with a statement regarding the value of your home, and the expense of the home valuation can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a very horrible ordeal for both parties, and it is often further complicated by the challenging decision of who gets the home. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Race Appraisal Services, LLC, regardless of the circumstances.
The parties will have a better idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death of a loved one is a painful 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 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 don't have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Hampden County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, along with information regarding any new sales or listings in their area that they want considered.
Close on your home quickly — for the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you want 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, unlike real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate 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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