Reasons to order an appraisal from EAC Real Estate Ventures & Appraisals
To a lot of us, an appraisal just looks like another cost in the long list of items for a home purchase or refinance. Nearly all lenders still call in a local expert because the stakes are so high, even though there are a developing number of automated home valuation processes that might appear to be less expensive than an appraisal. Is obtaining a mortgage the only basis for getting an appraisal? Are there also cases when the services of a licensed, independent real estate professional might come in handy? Of course there are.
Dispute your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your real estate, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from EAC Real Estate Ventures & Appraisals is your best evidence when building your case. We're equipped to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't necessary when the remaining 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 implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, EAC Real Estate Ventures & Appraisals will give you a statement regarding the value of your home. The cost of the appraisal 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 horrible event for the parties involved, and it is often more complicated by the challenging decision of who maintains the property. Regardless of the circumstances, it's a good idea to order an appraisal from EAC Real Estate Ventures & Appraisals so both parties are fully aware of the true market value of their property.
The parties will have a clearer picture 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 received a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires 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 highest degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Massachusetts through an employee relocation program
We are familiar with the stress associated with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — for the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what price 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.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a reliable 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.