6 Reasons to choose an appraisal from Andel Appraisals
To many, an appraisal is simply a line item in the long list of items for a home purchase or refinance. And even though there are a developing number of automated home valuation systems that may appear to be more cost-effective than an appraisal, almost all 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 more cases when the services of a licensed, independent real estate professional might come in handy.
Contest your tax assessment
If you reside in an area where the value of property has 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 capable of assisting you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Andel Appraisals can produce a statement regarding the value of your home, and the cost 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 troublesome decision of who keeps the house, and it can be an especially daunting occurrence for both parties. 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 want 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.
Ascertain a fair and accurate valuation for estate liquidation
The death of 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, ensuring the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair 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 a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide input on the positive aspects of their property, along with information regarding any new sales or listings in their area that they want considered.
Sell your home promptly — 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 more informed decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze 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 homes are one the market.