Reasons to consider an appraisal from Mitchell Appraisals
To a lot of us, an appraisal is simply one more thing in the long list of items for a home sale or refinance. Nearly all lenders still call in a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation systems that might seem more practical than an appraisal. You might think that obtaining a mortgage is the only reason to get an appraisal, but there are other cases when the services of a certified, independent real estate professional might be beneficial.
Dispute your tax assessment
If you are in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Mitchell Appraisals is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask buyers to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra 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% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Mitchell Appraisals can produce a statement regarding the value of your home. The cost of the home valuation can generally be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the troublesome decision of who keeps the property, and it can be a particularly traumatic occurrence for both parties. Regardless of the situation, it's a good idea to order an appraisal from Mitchell Appraisals so both parties are entirely aware of the true market value of their home.
If the parties wish to sell the home, they'll have a better idea 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 assessment.
Fair and accurate estate liquidation
Losing 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 residential property involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike many wealthy individuals. 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 essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Santa Rosa County through an employee relocation program
We are familiar with the stress associated with an employee relocation. We take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive attributes of their property, along with information regarding any new sales or listings in their area that they want considered.
Sell your home promptly — at the right price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable way to decide 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, because we're experts in knowing how long properties stay on the market.