Reasons you should order an appraisal from Race Appraisal Services, LLC
To a lot of people, an appraisal just looks like a line item in the long list of items for a home sale or refinance. While there are a developing number of automated home valuation methods that may appear to be more cost-effective than an appraisal, the majority of lenders still call for a local expert because the stakes are so high. Is obtaining a mortgage the only reason to get an appraisal? Are there additional instances when the services of a certified, independent real estate professional could be helpful? You bet.
Appeal your tax assessment in Hampden County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Race Appraisal Services, LLC, we're equipped to assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, almost all lenders ask homebuyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Race Appraisal Services, LLC will provide you with a statement regarding the value of your home. The cost of the appraisal can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a particularly traumatic experience for the parties involved, and it is often further complicated by the burdensome decision of who keeps the house. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from Race Appraisal Services, LLC, regardless of the situation.
If the parties want 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 assessment.
Ascertain a fair and accurate valuation for estate liquidation
The loss of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. 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 essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Hampden County through an employee relocation program
We know the headaches involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.
Sell your home quickly — at an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide 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 stay on the market.
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