Reasons to order an appraisal
To many, an appraisal is simply one more thing on the break-sheet for a home sale or refinance. The majority of lenders still want a local expert because the stakes are very high, even though there are a growing number of automated home valuation systems that may seem more practical than an appraisal. Is securing a mortgage the only basis for getting an appraisal? Are there also cases when the services of a licensed, independent real estate professional might be helpful? You bet.
Challenge your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your real estate, so if values have declined in your area, you can challenge your assessment and save money. An appraisal from Militti Appraisal Service is your best evidence when building your case. We can assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. This additional payment is often folded into the monthly mortgage payment and is promptly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Militti Appraisal Service can provide you with a statement regarding the value of your home. The cost of the home valuation can often be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is an especially traumatic ordeal for the parties involved, and it is often even more complicated by the burdensome decision of who gets the property. 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 home.
If the parties wish 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 evaluation.
Fair and accurate estate liquidation
The loss 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so 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.
Move to or from Bay County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed 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.
Close on your home promptly — at the right price
A professional appraisal can help you make a more informed 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. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
We determine 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 housesstay on the market. So, seeking 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.