Why you should get an appraisalThousands of people in Texas purchase, sell or refinance their home every year. Many of these transactions involve a simple line item for an appraisal. While there are a growing number of automated home valuation processes that may appear more economical than an appraisal, nearly all lenders still want a local expert because the stakes are very high. But is obtaining a mortgage the only reason to get an appraisal? Are there additional times when the services of a licensed, independent real estate professional could be beneficial? You bet.
Dispute your tax assessment in Collin, Cooke, Dallas, Denton, Ellis, Fannin, Grayson, Hood, Hunt, Johnson, Kaufman, Parker, Rockwall, Tarrant or Van Zandt CountyIf you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Appraising Texas is your best evidence when building your case. At Appraising Texas, we're equipped to assist you in appealing your tax assessment.
PMI removal to lower your mortgage paymentWhen the amount being loaned to the buyer is more than 80% of the actual value of the real estate, many lenders ask homebuyers to take out an additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to do away with the PMI payments on most mortgages when the balance is paid down to 78% of the original value.
If you'd like to get rid of PMI, Appraising Texas can provide you with a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in little time because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce is often complicated by the troublesome decision of who maintains the home, and it can be a very heartbreaking occurrence for both parties. It's a good idea to order an appraisal from Appraising Texas so both parties are completely aware of the true market value of their home, regardless of the circumstances.
If the parties wish to sell the home, they'll have a better 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.
Accurate and fair estate liquidationLosing a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the residential property involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so 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.
Let Appraising Texas help you with relocating to or from the DFW MetroplexMoving due to a job change can be a real pain, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our thorough process.
Let Appraising Texas help you sell your home quickly at the right priceWhether 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. Separate from 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.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long properties are on the market. So, getting a professional appraisal is a reliable way to decide 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.