Why you should get an appraisal
To a lot of us, an appraisal just looks like one more thing on the break-sheet for a mortgage or refinance. Almost all lenders still want a local expert because the stakes are so high, even though there are a growing number of automated home valuation systems that might seem more economical than an appraisal. You might assume that securing a mortgage is the only reason to get an appraisal, but there are additional situations when the services of a certified, independent real estate professional could come in handy.
Challenge your tax assessment in Kent County
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your home, so if values are less than what they used to be 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 appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask home buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Oftentimes, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remaining balance 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 invoked by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Baker Appraisal Services, Inc. can produce a statement regarding the value of your home, and the price you paid for the home valuation can generally be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the strenuous decision of who gets the house, and it can be a very traumatic experience for both parties. Regardless of the circumstances, 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 house.
The parties will have a clearer picture of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Kent County through an employee relocation program
We are familiar with the headaches associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide remarks on the positive features of their property, along with information about any recent sales or listings in their area that they want considered.
Sell your home quickly — for the right price
A professional appraisal can 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. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, getting 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.