Why you should hire an appraiser
Every year, thousands of people in Florida buy, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. And even though there are a multiplying number of automated home valuation processes that may appear to be more practical than an appraisal, nearly all lenders still want a local expert because the stakes are very high. Is getting a mortgage the only reason to get an appraisal? Are there other situations when the services of a licensed, independent real estate professional could come in handy? You bet there are.
Appeal your tax assessment
If you are in an area where the property value has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Mitchell Appraisals can provide you with a statement regarding the value of your home. The expense of the appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the challenging decision of who keeps the house, and it can be an especially traumatic event for both parties. So both parties are fully aware of the true market value of their property, it's a good idea to order an appraisal from Mitchell Appraisals, regardless of the circumstances.
If the parties need to sell the home, they'll have a clearer picture 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.
Accurate and fair estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. And seeing that a home or other property often makes up an unequal 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.
Relocate to or from Santa Rosa County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — for the right price
A professional appraisal will 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. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees depend 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 things like an additional bathroom or a kitchen remodel can make. 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.