Why you should get an appraisal
To many, an appraisal is simply one more thing in the long list of items for a mortgage or refinance. And while there are a developing number of automated home valuation systems that may appear cheaper than an appraisal, the majority of lenders still need a local expert because the stakes are so high. Is getting a mortgage the only reason to acquire an appraisal? Are there additional times when the services of a licensed, independent real estate professional could come in handy? You bet.
Dispute your tax assessment in Cook County
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in challenging 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, nearly all lenders ask homeowners to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Andel Appraisals can produce a statement regarding the value of your home. The price you paid for 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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Settle a divorce with less stress
A divorce is often complicated by the strenuous decision of who gets the home, and it can be a very traumatic experience for both parties. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from Andel Appraisals, regardless of the circumstances.
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 gotten a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle 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 essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Cook County through an employee relocation program
Employee relocation is a stressful event, and we understand. 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 features of their property, as well as information about any current sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — for an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. 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 additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable way to determine 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 stay on the market.