6 Reasons to order an appraisal from Andel Appraisals
To a lot of people, an appraisal just looks like a line item on the break-sheet for a mortgage or refinance. And even though there are a growing number of automated home valuation systems that may appear more prudent than an appraisal, the majority of lenders still want a local expert because the stakes are very high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are other times when the services of a certified, independent real estate professional could be helpful.
Dispute your tax assessment in Cook County
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from Andel Appraisals is your best evidence when building your case. We can assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homebuyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Andel Appraisals can provide you with a statement regarding the value of your home. The price you paid for the appraisal can often be recovered 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 often complicated by the difficult decision of who gets the house, and it can be a very traumatic occurrence for both parties. 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 property, regardless of the circumstances.
If the parties want to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
Losing 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 guarantee the utmost 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 take care of these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Cook County for work
We understand the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — for the right price
A professional appraisal can help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, seeking a professional appraisal is a reliable way to determine 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.