Why you should order an appraisal from Race Appraisal Services, LLC
Thousands of people in Massachusetts buy, sell or refinance their home each year. A lot of these transactions have a simple line item for an appraisal. Almost all lenders still call for a local expert because the stakes are so high, even though there are a growing number of automated home valuation processes that may appear more prudent than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there more cases when the services of a licensed, independent real estate professional could be beneficial? Of course.
Contest your tax assessment
If you are in an area where the property value 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. At Race Appraisal Services, LLC, we're qualified to assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask home buyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Race Appraisal Services, LLC will give you a statement regarding the value of your home, and the expense of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the hard decision of who gets the house, and it can be an especially daunting occurrence for both parties. It's a good idea to get an appraisal from Race Appraisal Services, LLC so both parties are fully aware of the true market value of their property, regardless of the circumstances.
If the parties need to sell the home, they'll have a a good idea 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 assessment.
Determine an accurate and fair 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 requires 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 many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Hampden County for work
We know the headaches involved with an employee relocation. That's why 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 features of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Sell your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision when determining your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking 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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