Why you should get an appraisal
To a lot of people, an appraisal just looks like another fee on the break-sheet for a mortgage or refinance. The majority of lenders still want a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation methods that might appear to be more cost-effective than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there other cases when the services of a certified, independent real estate professional might be beneficial? You bet there are.
Dispute your tax assessment
If you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Barnes Appraisal Company, we're qualified to assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. This added payment is often lumped into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the 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.
If you'd like to get rid of PMI, Barnes Appraisal Company can provide you with a statement regarding the value of your home. The expense of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be a very traumatic experience for both parties, and it is often more complicated by the challenging decision of who keeps the property. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from Barnes Appraisal Company, regardless of the circumstances.
The parties will have a good idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a hard 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 don't have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Comanche County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, getting 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.