6 Reasons to choose an appraisal from Mitchell Appraisals
To many, an appraisal just looks like one more thing on the settlement sheet for a home sale or refinance. Most lenders still want a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation methods that might appear more prudent than an appraisal. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are other instances when the services of a certified, independent real estate professional might be helpful.
Appeal your tax assessment
It's 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 gone down in your area, you can challenge your assessment and save money. An appraisal from Mitchell Appraisals is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Mitchell Appraisals will produce a statement regarding the value of your home. The price you paid for the home valuation can often be offset in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the troublesome decision of who gets the property, and it can be a very horrible ordeal for both parties. It's a good idea to order an appraisal from Mitchell Appraisals so both parties are completely aware of the true market value of their house, regardless of the circumstances.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine 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 real estate 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).
Most Americans don't have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. And since 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 essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Santa Rosa County for work
We know the headaches associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — for the right price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you choose 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 price the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted 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 houses stay on the market.