Reasons to get an appraisalEach year, thousands of people in Utah buy, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. Even though there are a budding number of automated home valuation systems that might appear more economical than an appraisal, almost all 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 additional situations when the services of a licensed, independent real estate professional might be beneficial? Absolutely.
Let RJ Appraisal help you appeal your tax assessment in Washington CountyIt's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your home, so if values have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from RJ Appraisal is your best evidence. We're equipped to assist you in appealing your tax assessment.
How can you do away with PMI to lower your mortgage payment?When the amount being loaned to the home owner is more than 80% of the actual value of the real estate, almost all lenders ask homebuyers to take out an extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is lumped into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. 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.
RJ Appraisal will provide you with a statement regarding the value of your home, and the cost of the home valuation can generally be offset in a short amount of time because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce can be an especially daunting experience for both parties, and it is often further complicated by the burdensome decision of who gets the home. It's a good idea to get an appraisal from RJ Appraisal so both parties are entirely aware of the true market value of their property, 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 received a fair assessment.
Accurate and fair estate liquidationLosing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires 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, guaranteeing the highest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Let RJ Appraisal help you with relocating to or from Washington CountyEmployee relocation can be a real pain, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our intensive process.
Selling your home quickly at the right priceWhether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. 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 and aren't related to the sales price.
We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homes stay on the market. So, seeking a professional appraisal is a reliable way to decide 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.