Reasons to order an appraisal from Appraisal First, Inc.
Thousands of people in Missouri purchase, sell or refinance their home every year. Most of these transactions consist of a simple line item for an appraisal. While there are a developing number of automated home valuation methods that may appear more prudent than an appraisal, the majority of lenders still call in a local expert because the stakes are incredibly high. You might think that obtaining a mortgage is the only reason to acquire an appraisal, but there are more situations when the services of a licensed, independent real estate professional could be helpful.
Appeal your tax assessment in Greene County
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a previous assessment of your home, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homebuyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Appraisal First, Inc. will produce a statement regarding the value of your home, and the expense of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is an especially daunting experience for the parties involved, and it is often further complicated by the troublesome decision of who maintains the house. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from Appraisal First, Inc., regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
Losing 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 residential property involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Greene County for work
Employee relocation is a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any recent sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value items 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 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.