Reasons to order an appraisal from Barnes Appraisal Company
To many, an appraisal just looks like another cost on the break-sheet for a mortgage or refinance. And even though there are a growing number of automated home valuation systems that might appear to be more cost-effective than an appraisal, the majority of lenders still want a local expert because the stakes are very high. Is getting a mortgage the only basis for getting an appraisal? Are there other instances when the services of a certified, independent real estate professional could come in handy? Of course.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by 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 Barnes Appraisal Company is your best evidence when building your case. At Barnes Appraisal Company, we're capable of assisting you in challenging your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, nearly all lenders ask buyers to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this additional payment is folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Barnes Appraisal Company can give you a statement regarding the value of your home. The cost of the appraisal can usually be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is a very daunting experience for the parties involved, and it is often even more complicated by the strenuous decision of who maintains the house. It's a good idea to order an appraisal from Barnes Appraisal Company so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
The parties will have a good idea 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 gotten a fair assessment.
Fair and accurate estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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 utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. A home or other property often makes up a disproportionate share of the total estate value, so 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 Comanche County for work
We are aware of the stress associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — at an accurate price
A professional appraisal can 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, unlike real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, obtaining a professional appraisal is a reliable way to determine 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.