Let Andel Appraisals take care of your appraisal needs
Thousands of people in Illinois purchase, sell or refinance their home every year. Many of these transactions contain a simple line item for an appraisal. And even though there are a growing number of automated home valuation methods that might appear more practical than an appraisal, most lenders still call in a local expert because the stakes are incredibly high. Is securing a mortgage the only basis for getting an appraisal? Are there more situations when the services of a licensed, independent real estate professional could be beneficial? You bet.
Appeal your tax assessment
If you live in an area where the property value 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 appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Andel Appraisals will provide you with a statement regarding the value of your home. The expense of the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a particularly daunting ordeal for the parties involved, and it is often further complicated by the hard decision of who gets the property. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from Andel Appraisals, regardless of the situation.
If the parties wish 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 received a fair assessment.
Determine a fair and accurate valuation for 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these matters, unlike wealthier individuals. A home or other property often makes up an unequal 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 received an honest deal.
Relocate to or from Cook County for work
We know the stress involved with an employee relocation. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Close on your home quickly — at the right price
A professional appraisal can help you make a better educated decision when determining your asking price, whether you choose 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 are based on our efforts to finish the appraisal report and and aren't related to the sales price.
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 propertiesare on the market. So, obtaining a professional appraisal is a trusted 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.