6 Reasons to order an appraisal from Elite Appraisal Services
Thousands of people in Texas purchase, sell or refinance their home each year. A lot of these transactions involve a simple line item for an appraisal. Most lenders still want a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation methods that may appear to be more prudent than an appraisal. Is getting a mortgage the only reason to acquire an appraisal? Are there also cases when the services of a licensed, independent real estate professional might be helpful? Of course there are.
Appeal your tax assessment
If you are in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Elite Appraisal Services is your best evidence when building your case. We can assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the property, many lenders ask homeowners to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Elite Appraisal Services will give you a statement regarding the value of your home, and the cost of the appraisal can generally be regained in just a few months 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 troublesome decision of who keeps the property, and it can be a particularly horrible event for both parties. It's a good idea to get an appraisal from Elite Appraisal Services so both parties are entirely aware of the true market value of their home, regardless of the circumstances.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Brazoria County through an employee relocation program
We know the stress involved with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide input on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from 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 complete 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 reliable way to determine 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.