Reasons you should order an appraisal from Young Appraisal Company, Inc.
Thousands of people in Texas purchase, sell or refinance their home each month. Most of these transactions include a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that might appear more cost-effective than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there other instances when the services of a certified, independent real estate professional might be beneficial? You bet there are.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your real estate, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Young Appraisal Company, Inc., we're capable of assisting you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, most lenders ask homebuyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often bundled into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMI becomes unnecessary when the leftover 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 eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Young Appraisal Company, Inc. can provide you with a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.
Get your appraisal from Young Appraisal Company, Inc.Order today
Settle a divorce with fewer hang-ups
A divorce is a very daunting event for the parties involved, and it is often further complicated by the strenuous decision of who gets the house. It's a good idea to get an appraisal from Young Appraisal Company, Inc. so both parties are completely aware of the true market value of their house, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
The death 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.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Tarrant County through an employee relocation program
We know the stress associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, as well as information about any recent sales or listings in their area that they want considered.
Sell your home promptly — at an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. 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 things like an additional bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long houses stay on the market.