Reasons to order an appraisal
Year after year, thousands of people in North Carolina purchase, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. And while there are an increasing number of automated home valuation processes that might appear to be more economical than an appraisal, almost all lenders still call for a local expert because the stakes are very high. You might think that getting a mortgage is the only reason you should get an appraisal, but there are additional instances when the services of a licensed, independent real estate professional could be helpful.
Challenge your tax assessment in Forsyth County
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your house, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Herrin Appraisal Company is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, many lenders ask home owners to take out this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes 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 do away with the PMI installments when the loan-to-value ratio conditions have been met.
Herrin Appraisal Company will produce a statement regarding the value of your home, and the expense of the home valuation can often be recovered 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 a particularly daunting experience for the parties involved, and it is often more complicated by the troublesome decision of who keeps the property. Regardless of the situation, it's a good idea to order an appraisal from Herrin Appraisal Company so both parties are completely aware of the true market value of their house.
If the parties need to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine an accurate and fair valuation for estate liquidation
Losing 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 real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Forsyth County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any new sales or listings in their area that they want considered during our detailed inspection.
Sell your home promptly — for an accurate price
Whether you want 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. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted way to determine what improvements will add value and what an applicable 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 homes stay on the market.
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