Reasons to hire an appraiser
Each year, thousands of people in Texas purchase, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are very high, even though there are a developing number of automated home valuation methods that might appear more practical than an appraisal. You might believe that obtaining a mortgage is the only basis for getting an appraisal, but there are additional cases when the services of a certified, independent real estate professional could be beneficial.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your home, so if values have gone down in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the property, most lenders ask buyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Anderson Appraisal, LLC can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can often be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the troublesome decision of who maintains the home, and it can be a particularly horrible experience for both parties. So both parties are fully aware of the true market value of their home, it's a good idea to order an appraisal from Anderson Appraisal, LLC, regardless of the situation.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
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 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, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Randall County through an employee relocation program
We know the stress involved with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive features of their property, along with information about any recent sales or listings in their area that they want considered.
Close on your home quickly — at an accurate price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. 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 based on our efforts to finish the appraisal report.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 properties stay on the market.