REASONS TO GET AN APPRAISAL
Every year, countless people in the United States buy, sell or refinance their own slice of the American Dream.  Most, if not all, of these transactions include a simple line item for an appraisal.  It has become an understood and accepted part of a real estate transaction.  "Let's bring in the expert and make sure we're not spending too much on this property."

But is this the only reason to get an appraisal? Are there other times when the services of a certified, licensed, independent real estate professional might come in handy?  Absolutely!

DIVORCE 
A divorce can be a particularly traumatic experience for both parties and is often further complicated by the difficult decision of "Who gets the house?".  In most divorce cases, the Court won't usually force the parties involved to "buyout" the other party's interest but it may however order the sale of the home so each party gets an equal share of the equity.  Regardless of the situation, it's a good idea to order an appraisal so both parties are fully aware of what the true market value is.

If the parties want to sell the home, they'll have a better idea of what price to set.  And on the flipside, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

ESTATE
The loss of a loved one is a difficult time in life and settling an estate from a death, or probate, often requires 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 fullest degree of discretion.

Unlike many wealthy individuals, the majority of Americans do not have dedicated estate planners or executors to handle these issues.  Also, in most cases, a home or other real property makes up a disproportionate share of the total estate value.

Here too, an appraiser can help.  Often the first step in fairly disposing of an estate is to understand its true value.  Where property is involved, the appraiser can help determine the true value.  At this point, equitable arrangements can more easily be arrived at among disputing parties. Everyone walks away knowing they've received a fair deal.

TAX ASSESSMENT APPEAL
Is your home over assessed?  If it is, you may be paying hundreds if not thousands of dollars more than you should each and every year. An appraisal for tax assessment appeal purposes is the best way to determine whether or not you are being correctly assessed.

PRE-LISTING OR FOR SALE BY OWNER (FSBO) APPRAISAL
Whether you're working with a real estate agent or selling your home on your own, it's probably in your best interest to have an "objective" third-party's opinion of value prior to listing your home for sale or signing a listing agreement.  And that's where we come in.  We can provide you with an appraisal so that you have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales".  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 better educated decision when determining your selling price.

Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for.  It's easy for them to step in and give you the information to help you make your decision.  Appraiser fees are based on the time and effort it takes to complete the report and not based on a percentage of the value of the property. So seeking a professional appraisal can often help homeowners make the best decision decision possible, especially during challenging economic times like these.

PMI REMOVAL
Private Mortgage Insurance or PMI is the supplemental insurance that many lenders ask home buyers to purchase when the amount being loaned is more than 80% of the value of the home. Very often, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal paydown - dips below this 80% level. In fact, the United States Congress passed 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.

Our PMI Appraisal service is designed to assist you if you believe your loan meets the 80% loan-to-value metric.  The cost of the appraisal will oftentimes be recovered within just a few months by not paying the monthly PMI fee. 

RELOCATION
We understand the stress involved with an employee relocation.  We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive attributes of their property along with information about any recent sales or listings in their neighborhood that they want considered.

HOME IMPROVEMENTS TO ADD VALUE
Before you add that big new addition or significantly improve your home in other ways, did you ever think to ask "how much value will this add to my home?".  Remember, cost does not necessarily equal value.  This is especially true if your improvements will result in a home that is larger or in other ways significantly superior to the other homes in your neighborhood or market area. 

Here's another thought for home sellers;  before you decide to sell your home, there are several decisions to be made. First and foremost: "How much should it sell for?"  But don't forget there may be other equally important questions to ask yourself such as "Would it be better to paint the entire house before we sell it?", "Should I put in that third bathroom?", "Should I complete my kitchen remodel?"  Most improvements to your home will add some value.  However, certain improvements have more affect than others.  While a kitchen remodel may improve the appeal of a home, it may not add nearly enough value to justify the expense.

Of course, this is where an appraisal can be beneficial.  Before spending thousands upon thousands of dollars, may we suggest that you consider an appraisal to determine how much additional value might be derived from those improvements.