Why you should hire an appraiser
To many, an appraisal is simply one more thing on the break-sheet for a mortgage or refinance. And even though there are a growing number of automated home valuation processes that may appear more practical than an appraisal, nearly all lenders still want a local expert because the stakes are so high. Is getting a mortgage the only reason to get an appraisal? Are there also instances when the services of a certified, independent real estate professional might come in handy? Absolutely.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if values have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from R.M. Rose is your best evidence when building your case. We can assist you in challenging your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask homeowners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked 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.
If you'd like to do away with PMI, R.M. Rose can produce a statement regarding the value of your home. The expense of the appraisal can often be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a very daunting event for the parties involved, and it is often further complicated by the troublesome decision of who maintains the home. So both parties are completely aware of the true market value of their home, it's a good idea to order an appraisal from R.M. Rose, regardless of the circumstances.
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 gotten a fair evaluation.
Fair and accurate estate liquidation
The death of a loved one is a hard 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Montgomery County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, as well as information about any current sales or listings in their area that they want considered.
Close on your home promptly — at the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your asking price. Apart from 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 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. Getting a professional appraisal is a trusted 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, because we're experts in knowing how long properties are one the market.