Reasons to get an appraisal
To many, an appraisal is simply another fee in the long list of items for a mortgage or refinance. Practically all lenders still want a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that might appear to be more economical than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a certified, independent real estate professional could be helpful? Of course.
Challenge your tax assessment
If you reside in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Appraise Colorado Inc, we're qualified to assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, nearly all lenders ask homeowners to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is damaging because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Appraise Colorado Inc can give you a statement regarding the value of your home, and the expense of the appraisal can generally be regained 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 a particularly traumatic ordeal for the parties involved, and it is often even more complicated by the hard decision of who keeps the property. Regardless of the situation, it's a good idea to order an appraisal from Appraise Colorado Inc so both parties are completely aware of the true market value of their home.
If the parties want to sell the home, they'll have a better idea 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
The loss of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these issues. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Douglas County through an employee relocation program
We are aware of the stress involved with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide remarks on the positive features of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, getting a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.