Reasons to order an appraisal from Baker Appraisal Services, Inc.
Every year, thousands of people in Delaware purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. The majority of lenders still want a local expert because the stakes are very high, even though there are a growing number of automated home valuation systems that may seem cheaper than an appraisal. Is getting a mortgage the only reason to acquire an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be beneficial? Absolutely.
Challenge your tax assessment in Kent County
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a past assessment of your real estate, so if values have gone down in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, nearly all lenders ask home owners to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Baker Appraisal Services, Inc. can give you a statement regarding the value of your home, and the cost of 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 fewer hang-ups
A divorce is often complicated by the challenging decision of who maintains the house, and it can be an especially traumatic ordeal for both parties. It's a good idea to order an appraisal from Baker Appraisal Services, Inc. so both parties are fully aware of the true market value of their property, regardless of the situation.
The parties will have a better idea of what price to set, if they need 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 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 maximum degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven share of the total estate value, so knowing 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 Kent County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or use the assistance 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 a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, seeking a professional appraisal is a reliable way to decide 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.