6 Reasons to order an appraisal from Mitchell Appraisals
To a lot of us, an appraisal just looks like one more thing on the break-sheet for a home sale or refinance. Nearly all lenders still call for a local expert because the stakes are very high, even though there are a growing number of automated home valuation processes that might appear to be more practical than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there additional situations when the services of a certified, independent real estate professional could be beneficial? Of course.
Appeal 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 can assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask home owners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the property. This additional payment is often lumped into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the leftover 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 passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Mitchell Appraisals will produce a statement regarding the value of your home, and the cost of the home valuation can generally be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the burdensome decision of who gets the house, and it can be a very traumatic ordeal for both parties. 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 house, 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 gotten a fair assessment.
Accurate and fair 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 real estate 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 handle these matters, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Santa Rosa County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide remarks on the positive attributes of their property, along with information about any current sales or listings in their area that they want considered.
Sell your home quickly — for the right price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted 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, because we're experts in knowing how long homes stay on the market.