Why you should get an appraisal from Andel Appraisals

Every year, thousands of people in Illinois buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are very high, even though there are a growing number of automated home valuation processes that might appear more cost-effective than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there also times when the services of a certified, independent real estate professional could come in handy? You bet there are.

Let Andel Appraisals assist you in lowering your mortgage payment

Appeal your tax assessment

If you are in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Andel Appraisals is your best evidence when building your case. At Andel Appraisals, we're qualified to assist you in appealing your tax assessment.

PMI removal to reduce a mortgage payment

Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. This additional payment is often bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, Andel Appraisals can give you a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered in little time because you'll no longer be paying the PMI.

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Divorce settlement with less stress

A divorce is an especially daunting experience for the parties involved, and it is often even more complicated by the difficult decision of who keeps the property. Regardless of the situation, 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.

The parties will have a a good idea of what price to set, if they wish to sell the home. And on the flip side, 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

The death 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.

Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of vital 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

Employee relocation can be a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive features of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.

Sell your home quickly — at an accurate price

A professional appraisal will help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or with the help 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 a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.

We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, seeking 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.

Let Andel Appraisals assist you in selling your home quickly at the right price