Let AnDel Appraisals serve your appraisal needs
Thousands of people in Illinois buy, sell or refinance their home each month. Most of these transactions contain a simple line item for an appraisal. And while there are an increasing number of automated home valuation methods that may appear to be cheaper than an appraisal, the majority of lenders still call for a local expert because the stakes are very high. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a licensed, independent real estate professional might come in handy.
Contest 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 home, so if prices have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
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 home owner is more than 80% of the actual value of the property. Very often, this extra payment is folded into the monthly mortgage payment and is soon forgotten. This is bad because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
AnDel Appraisals can give you a statement regarding the value of your home, and the expense of the home valuation can generally be recovered 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 burdensome decision of who keeps the house, and it can be an especially traumatic event for both parties. It's a good idea to order an appraisal from AnDel Appraisals so both parties are fully aware of the true market value of their home, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. 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 hard time in life, and settling an estate from a death, or probate, often entails 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, guaranteeing the highest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Cook County through an employee relocation program
We know the stress associated with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed 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 area that they want considered.
Sell your home quickly — for the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, obtaining a professional appraisal is a reliable way to determine 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.