Reasons to consider an appraisal from Barnes Appraisal Company
To a lot of us, an appraisal is simply one more thing in the long list of items for a home sale or refinance. While there are an increasing number of automated home valuation systems that may seem more cost-effective than an appraisal, almost all lenders still need a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to acquire an appraisal? Are there more times when the services of a licensed, independent real estate professional might come in handy? Of course there are.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your real estate, so if prices have declined in your area, you can appeal your assessment and save money. An appraisal from Barnes Appraisal Company is your best evidence when building your case. At Barnes Appraisal Company, we're capable of assisting you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, almost all lenders ask buyers to purchase this supplemental 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 bad because PMI becomes unnecessary when the leftover 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 passed by the United States Congress that requires 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, Barnes Appraisal Company will give you a statement regarding the value of your home. The cost of the appraisal can generally 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 is an especially daunting event for the parties involved, and it is often even more complicated by the challenging decision of who gets the house. Regardless of the circumstances, it's a good idea to get an appraisal from Barnes Appraisal Company so both parties are entirely aware of the true market value of their house.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, 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 difficult 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. 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 significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Comanche County through an employee relocation program
We know the headaches involved 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 characteristics of their property, as well as information about any current sales or listings in their area that they want considered during our detailed inspection.
Sell your home promptly — at the right price
A professional appraisal will 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. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to decide 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 are one the market.