Reasons to order an appraisal from Elite Appraisal Services
Each year, thousands of people in Texas purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. While there are a multiplying 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 very high. Is getting a mortgage the only basis for getting an appraisal? Are there other situations when the services of a licensed, independent real estate professional could be beneficial? You bet.
Contest your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your house, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in appealing your tax assessment.
PMI removal to lower a 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 purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. This is bad because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Elite Appraisal Services can give you a statement regarding the value of your home. The expense of the home valuation can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is an especially traumatic experience for the parties involved, and it is often further complicated by the difficult decision of who keeps the home. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Elite Appraisal Services, regardless of the circumstances.
The parties will have a better 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 gotten a fair assessment.
Fair and accurate estate liquidation
Losing 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 ensure the fullest 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 take care of these matters. And since a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Brazoria County through an employee relocation program
We are aware of the headaches associated with an employee relocation. That being said, we take great care in setting up 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 about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — for the right 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 use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, seeking 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.