Purchase/Refinance/Home Equity

An appraisal is a valuation tool used by mortgage lenders to verify a property's worth for prospective financing. The mortgage industry relies upon a qualified independent real estate appraiser to guide them in their financing decisions.

For-Sale-by-Owner/Pre-Listing Appraisals

A professional appraisal can help you set can help you set a realistic listing/selling price so you're home will attract buyers. The appraiser is objective and will remove the emotion in discussing the value of your home. It's the independent third party's opinion to use in your negotiations with real estate agents and potential buyers. Potential buyers will be far more likely to give credibility to a professional appraiser's value opinion.

PMI Removal

Private Mortgage Insurance or PMI is the supplemental insurance that many lenders have to purchase when the amount being loaned is more than 80% of the value of the home (LTV loan to value). This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. After a rise in values and/or payment to principal goes below this 80% level PMI is no longer required. United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met. An appraisal is required to determine the property's value. The costs of these services are recovered in just a few months of not paying the PMI.

Estate Planning

In times of loss, it is often difficult to think of the various steps that must be taken to resolve any outstanding monies of the deceased. An appraisal is required to establish fair market values of any real estate properties in the estate for tax filings and any presentation to multiple heirs. The aid of an appraisal is a necessity to dispose of the estate properly.

Property Tax Assessments

Challenging the tax assessment has become a necessity in many parts of the country. Unfortunately, most people go into these challenges unarmed. They may pull some information from the Internet to support their claims, but have no real basis for their claims.

A real estate appraiser can provide the accurate answers to the question of value. While it may not be economical to commission a full appraisal to save a few hundred off your tax bill, often an appraiser can do a limited appraisal for much less, yet with the same conclusions and integrity. An appraisal from a qualified appraiser would be a step in the right direction in any dispute with your local tax assessor.