Reasons to choose an appraisal from Andel Appraisals
To a lot of people, an appraisal just looks like a line item on the break-sheet for a home sale or refinance. Even though there are a multiplying number of automated home valuation methods that may appear more economical than an appraisal, practically all lenders still call in a local expert because the stakes are very high. You might assume that getting a mortgage is the only reason you should get an appraisal, but there are other times when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Andel Appraisals is your best evidence when building your case. We can assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, many lenders ask home buyers to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this added payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the remaining balance 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 passed by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Andel Appraisals will produce a statement regarding the value of your home, and the cost of the appraisal can generally be recovered 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 often complicated by the challenging decision of who maintains the house, and it can be a particularly daunting event for both parties. So both parties are fully 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.
The parties will have a better 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 received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a painful 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 maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike many wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth 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 can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information about any new sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your selling 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 amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable 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, because we're experts in knowing how long properties are one the market.