Reasons to order an appraisal from Barnstable/Plymouth Appraisal Services
Year after year, thousands of people in Massachusetts buy, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. And even though there are a developing number of automated home valuation methods that might appear to be cheaper than an appraisal, almost all lenders still want a local expert because the stakes are so high. Is securing a mortgage the only reason to acquire an appraisal? Are there additional cases when the services of a certified, independent real estate professional could be beneficial? Of course.
Contest your tax assessment in County
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your real estate, so if values have gone down in your area, you can challenge your assessment and save money. An appraisal from Barnstable/Plymouth Appraisal Services is your best evidence when building your case. We can assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, nearly all lenders ask buyers to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't necessary 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 United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Barnstable/Plymouth Appraisal Services can provide you with a statement regarding the value of your home, and the price you paid for the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the difficult decision of who gets the property, and it can be an especially traumatic ordeal for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Barnstable/Plymouth Appraisal Services, regardless of the situation.
The parties will have a a good idea of what price to set, if they want 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 assessment.
Accurate and fair estate liquidation
Losing 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 residential property involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these matters. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from County through an employee relocation program
Employee relocation is a stressful event, and we understand. 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 features of their property, along with information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Close on your home quickly — at the right price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, getting 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.