6 Reasons you should order an appraisal from Certified General Appraisal Service
Every year, thousands of people in Maryland purchase, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. And while there are a multiplying number of automated home valuation processes that might seem more prudent than an appraisal, the majority of lenders still call for a local expert because the stakes are so high. Is obtaining a mortgage the only basis for getting an appraisal? Are there also times when the services of a certified, independent real estate professional could be helpful? You bet.
Challenge your tax assessment in Howard County
If you live in an area where the property value 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 Certified General Appraisal Service, we're capable of assisting you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask homeowners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. More often than not, this added payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. 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 eliminate PMI, Certified General Appraisal Service can produce a statement regarding the value of your home. 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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Settle a divorce with less stress
A divorce is a particularly daunting experience for the parties involved, and it is often more complicated by the challenging decision of who maintains the home. Regardless of the situation, it's a good idea to order an appraisal from Certified General Appraisal Service so both parties are entirely aware of the true market value of their house.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up an uneven 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 gotten an honest deal.
Move to or from Howard County for work
We are familiar with the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or use the assistance 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 based on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a reliable way to determine 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.