Let Mitchell Appraisals serve your appraisal needs
Year after year, thousands of people in Florida buy, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation methods that may appear to be more cost-effective than an appraisal. Is getting a mortgage the only reason to acquire an appraisal? Are there also times when the services of a licensed, independent real estate professional could be helpful? Absolutely.
Appeal your tax assessment
If you are in an area where property values have 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. At Mitchell Appraisals, we're capable of assisting you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, almost all lenders ask homeowners to take out this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Mitchell Appraisals can produce a statement regarding the value of your home. The price you paid for the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be a very horrible event for both parties, and it is often further complicated by the strenuous decision of who keeps the home. It's a good idea to get an appraisal from Mitchell Appraisals so both parties are completely aware of the true market value of their home, regardless of the circumstances.
If the parties need to sell the home, they'll have a a good 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 evaluation.
Determine an accurate and fair 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 calls for 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 fullest degree of discretion.
Unlike 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 an uneven share of the total estate value, so knowing the true value of the real estate at hand is of significant 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
We are aware of the stress involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information regarding any new sales or listings in their area that they want considered during our thorough inspection.
Close on your home promptly — for an accurate price
Whether you choose to sell your home on your own or with the help 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, apart from real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a trusted 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.