Reasons to order an appraisal
Each year, thousands of people in Florida purchase, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. Most lenders still call in a local expert because the stakes are very high, even though there are a developing number of automated home valuation systems that might appear to be less expensive than an appraisal. You might think that obtaining a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask homeowners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Appraisal Services of Brandon, Inc . will give you a statement regarding the value of your home. The price you paid for the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a very traumatic ordeal for both parties, and it is often more complicated by the challenging decision of who keeps the house. It's a good idea to order an appraisal from Appraisal Services of Brandon, Inc . so both parties are completely aware of the true market value of their home, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires 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 handle these issues, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Hillsborough County for work
We understand the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home quickly — for the right price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
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 propertiesare on the market. So, seeking a professional appraisal is a trusted way to decide 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.