Why you should get an appraisal

Every year, thousands of people in Florida purchase, sell or refinance their home. Many of these transactions include a simple line item for an appraisal. While there are an increasing number of automated home valuation methods that may seem more cost-effective than an appraisal, the majority of lenders still call in a local expert because the stakes are incredibly high. Is getting a mortgage the only reason you should get an appraisal? Are there more times when the services of a licensed, independent real estate professional could come in handy? Absolutely.

Let Mitchell Appraisals help you lower your mortgage payment

Appeal your tax assessment in Santa Rosa County

It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a past assessment of your real estate, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from Mitchell Appraisals is your best evidence when building your case. We can assist you in appealing your tax assessment.

Remove PMI to lower your mortgage payment

When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, almost all lenders ask buyers to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.

Mitchell Appraisals can produce a statement regarding the value of your home, and the cost of the appraisal can often be recovered in little time 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 hard decision of who maintains the property, and it can be a very daunting experience for both parties. Regardless of the situation, 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 house.

The parties will have a a good idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

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 residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate 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 leave knowing they've received an honest deal.

Move to or from Santa Rosa County through an employee relocation program

We are aware of the stress associated with an employee relocation. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information about any current sales or listings in their neighborhood that they want considered during our detailed inspection.

Sell your home promptly — at an accurate price

A professional appraisal will help you make a better educated decision regarding your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. 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 additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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.

Let Mitchell Appraisals assist you in selling your home quickly at the right price