Let Andel Appraisals serve your appraisal needs
To a lot of us, an appraisal is simply another cost in the long list of items for a home sale or refinance. Practically all lenders still want a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation methods that might appear cheaper than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional could be beneficial? Of course.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, most lenders ask homeowners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Andel Appraisals can provide you with a statement regarding the value of your home, and the cost of the home valuation can usually be regained in just a few months 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 often complicated by the challenging decision of who maintains the house, and it can be a very traumatic experience for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Andel Appraisals so both parties are entirely aware of the true market value of their home.
If the parties need 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.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful 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. 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 matters, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Cook County through an employee relocation program
We understand the headaches involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered.
Close on your home quickly — for the right price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you decide 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 related to 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. Obtaining 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 properties are one the market.