Reasons to get an appraisal
Thousands of people in Florida purchase, sell or refinance their home each month. Most of these transactions involve a simple line item for an appraisal. And even though there are a developing number of automated home valuation processes that might seem more economical than an appraisal, most lenders still call for a local expert because the stakes are incredibly high. You might believe that securing a mortgage is the only reason to get an appraisal, but there are other times when the services of a certified, independent real estate professional might be helpful.
Dispute your tax assessment
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 us is your best evidence. At Militti Appraisal Service, we're capable of assisting you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, many lenders ask buyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Militti Appraisal Service will give you a statement regarding the value of your home. The expense of the appraisal can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is often complicated by the troublesome decision of who keeps the property, and it can be an especially traumatic occurrence for both parties. Regardless of the situation, it's a good idea to get an appraisal from Militti Appraisal Service so both parties are fully aware of the true market value of their house.
If the parties need to sell the home, they'll have a better 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.
Determine an accurate and fair valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum 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 do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Bay County through an employee relocation program
We understand the stress associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive features of their property, as well as information about any current sales or listings in their area that they want considered.
Close on your home quickly — at the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you want to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate 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 houses stay on the market.