Why you should get an appraisal
Thousands of people in Michigan buy, sell or refinance their home each year. Most of these transactions include a simple line item for an appraisal. Nearly all lenders still call in a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation systems that might appear more prudent than an appraisal. You might assume that getting a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a certified, independent real estate professional could come in handy.
Challenge your tax assessment
If you are in an area where property values have 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 can assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask home owners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Very often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Appraiz-it, LLC can provide you with a statement regarding the value of your home. The expense of the home valuation can often be recovered in little time because you'll no longer be paying the PMI.
Order an appraisal from Appraiz-it, LLCOrder online
Settle a divorce with fewer hang-ups
A divorce can be a particularly horrible event for both parties, and it is often further complicated by the strenuous decision of who maintains the home. It's a good idea to order an appraisal from Appraiz-it, LLC so both parties are completely aware of the true market value of their property, regardless of the situation.
The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Ascertain a fair and accurate valuation for estate liquidation
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 Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing 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 Oakland County for work
We know the headaches associated with an employee relocation. We take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive aspects of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you want 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 aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a reliable way to determine 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.