Let Mitchell Appraisals attend to your appraisal needs
Each year, thousands of people in Florida buy, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. And while there are a budding number of automated home valuation systems that may appear to be more economical than an appraisal, the majority of lenders still need a local expert because the stakes are incredibly high. You might believe that obtaining a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a licensed, independent real estate professional might be beneficial.
Appeal your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Mitchell Appraisals is your best evidence when building your case. At Mitchell Appraisals, we're equipped to assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, almost all lenders ask buyers to take out this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes 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) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Mitchell Appraisals can produce a statement regarding the value of your home. The cost of the appraisal can often be regained in a short amount of 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 a particularly horrible event for the parties involved, and it is often further complicated by the difficult decision of who keeps the property. Regardless of the situation, 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.
If the parties want 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 evaluation.
Accurate and fair 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. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Santa Rosa County for work
Employee relocation is a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any recent sales or listings in their area that they want considered.
Sell your home quickly — at the right price
A professional appraisal can 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. An appraiser has no vested interest in what amount the house sells for, unlike 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 extra bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long homes are one the market.