Reasons to order an appraisal
To a lot of people, an appraisal is simply one more thing in the long list of items for a home sale or refinance. Nearly all lenders still call for a local expert because the stakes are so high, even though there are a growing number of automated home valuation methods that might appear cheaper than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there also situations when the services of a certified, independent real estate professional might be beneficial? Of course there are.
Challenge your tax assessment
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Young Appraisal Company, Inc. is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask home buyers to take out this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Young Appraisal Company, Inc. will produce a statement regarding the value of your home, and the expense of the home valuation can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a very daunting ordeal for the parties involved, and it is often even more complicated by the burdensome decision of who gets the home. 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 circumstances.
If the parties want 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 gotten a fair assessment.
Ascertain a fair and accurate valuation for estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for 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, ensuring the fullest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle 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 leave knowing they've gotten a fair deal.
Move to or from Tarrant County through an employee relocation program
We understand the headaches involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at an accurate price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, seeking 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.