Reasons to get an appraisal from Mitchell Appraisals

Each year, thousands of people in Florida buy, sell or refinance their home. Most of these transactions include a simple line item for an appraisal. And while there are a developing number of automated home valuation processes that may appear to be more cost-effective than an appraisal, the majority of lenders still need a local expert because the stakes are very high. But is getting a mortgage the only basis for getting an appraisal? Are there other times when the services of a licensed, independent real estate professional could be beneficial? You bet there are.


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Let Mitchell Appraisals help you appeal your tax assessment in Santa Rosa County

If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from Mitchell Appraisals is your best evidence. We're capable of assisting you in appealing your tax assessment.

How can you eliminate PMI to lower your mortgage payment?

When the amount being loaned to the buyer is more than 80% of the actual value of the home, most lenders ask homebuyers to buy an extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is folded into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.

Mitchell Appraisals will give you a statement regarding the value of your home, and the cost of the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is an especially traumatic event for the parties involved, and it is often more complicated by the burdensome decision of who gets the property. It's a good idea to get an appraisal from Mitchell Appraisals so both parties are entirely aware of the true market value of their house, regardless of the situation.

If the parties need 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.

Settling an estate with peace of mind

The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.

Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these issues. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.

Relocating to or from Santa Rosa County?

Moving due to a job change is a more than just an inconvenience. We know where you're coming from. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed process, we recommend relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered.

Selling your home quickly at the right price with an appraisal from Mitchell Appraisals

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Separate from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to perform the appraisal report and and aren't related to the sales price.

On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homes stay on the market. So, seeking a professional appraisal is a trusted 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.