Reasons to hire an appraiser
Thousands of people in Florida buy, sell or refinance their home each year. Many of these transactions have a simple line item for an appraisal. Even though there are a budding number of automated home valuation systems that may seem more practical than an appraisal, the majority of lenders still call in a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason you should get an appraisal? Are there other instances when the services of a licensed, independent real estate professional might be beneficial? Of course.
Appeal 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 depreciated. Property taxes are based upon a previous assessment of your house, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, most lenders ask buyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Mitchell Appraisals can provide you with a statement regarding the value of your home, and the expense of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the strenuous decision of who maintains the home, and it can be an especially horrible event for both parties. It's a good idea to order an appraisal from Mitchell Appraisals so both parties are completely aware of the true market value of their home, regardless of the circumstances.
The parties will have a better idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Santa Rosa County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — for an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, seeking 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.