Reasons to order an appraisal from Mitchell Appraisals
Each year, thousands of people in Florida purchase, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. And while there are a growing number of automated home valuation systems that may appear more economical than an appraisal, practically all lenders still want a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a licensed, independent real estate professional could be helpful.
Dispute your tax assessment in Santa Rosa County
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 house, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask home buyers to buy when the amount being loaned to the homeowner 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 promptly forgotten. This is unfavorable 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 United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Mitchell Appraisals can give you a statement regarding the value of your home. The cost of the home valuation can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is an especially daunting event for the parties involved, and it is often more complicated by the burdensome decision of who keeps the home. Regardless of the circumstances, it's a good idea to order an appraisal from Mitchell Appraisals so both parties are fully aware of the true market value of their home.
The parties will have a clearer picture of what price to set, if they wish 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 assessment.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a painful 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. We guarantee 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 many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Santa Rosa County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive aspects of their property, as well as information about any recent sales or listings in their area that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you want 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 rest on our efforts to finish the appraisal report and not a percentage of the sales price.
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 housesstay on the market. So, getting a professional appraisal is a reliable way to determine 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.