Reasons to get an appraisal from Baker Appraisal Services, Inc.
Thousands of people in Delaware purchase, sell or refinance their home every month. A lot of these transactions contain a simple line item for an appraisal. And even though there are a developing number of automated home valuation systems that may seem less expensive than an appraisal, nearly all lenders still call for a local expert because the stakes are incredibly high. Is securing a mortgage the only reason you should get an appraisal? Are there additional situations when the services of a certified, independent real estate professional could be helpful? Absolutely.
Dispute your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if values have declined in your neighborhood, 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 appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, most lenders ask buyers to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't necessary when the remaining balance 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 remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Baker Appraisal Services, Inc. will provide you with a statement regarding the value of your home. The cost of the home valuation can generally be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially daunting ordeal for both parties, and it is often even more complicated by the troublesome decision of who keeps the house. It's a good idea to get an appraisal from Baker Appraisal Services, Inc. so both parties are completely aware of the true market value of their property, regardless of the situation.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The loss of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Kent County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide remarks on the positive features of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.
Sell your home quickly — at the right price
Whether you decide 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 when determining your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, obtaining a professional appraisal is a trusted way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.