Reasons to order an appraisal from Herrin Appraisal Company
To a lot of us, an appraisal just looks like a line item on the break-sheet for a mortgage or refinance. Nearly all lenders still call in a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might seem cheaper than an appraisal. Is securing a mortgage the only basis for getting an appraisal? Are there other cases when the services of a licensed, independent real estate professional might be helpful? You bet there are.
Appeal your tax assessment in Forsyth County
If you are in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, many lenders ask homeowners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Herrin Appraisal Company will provide you with a statement regarding the value of your home, and the expense of the home valuation can usually be offset 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 difficult decision of who gets the home, and it can be a very daunting event for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from Herrin Appraisal Company, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they need 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 evaluation.
Accurate and fair estate liquidation
The death of a loved one is a hard 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 wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value 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 Forsyth County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information about any new sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long homes are one the market.
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