Why you should order an appraisal

Year after year, thousands of people in Michigan purchase, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. While there are a budding number of automated home valuation systems that may seem more prudent than an appraisal, practically all lenders still call in a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there other times when the services of a licensed, independent real estate professional might be beneficial? You bet.

Let RJE Real Estate Appraisal Service assist you in lowering your mortgage payment

Appeal your tax assessment in Washtenaw County

It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your real estate, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from RJE Real Estate Appraisal Service is your best evidence when building your case. We can assist you in appealing your tax assessment.

PMI removal to reduce your mortgage payment

When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, almost all lenders ask home buyers to buy this supplemental insurance policy. 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 becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to do away with PMI, RJE Real Estate Appraisal Service can produce a statement regarding the value of your home. The price you paid for the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.

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Settle a divorce with fewer hang-ups

A divorce is often complicated by the hard decision of who keeps the house, and it can be an especially daunting occurrence for both parties. It's a good idea to order an appraisal from RJE Real Estate Appraisal Service so both parties are fully aware of the true market value of their house, regardless of the circumstances.

The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, 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

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 highest degree of discretion.

Unlike wealthy 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 a disproportionate share of the total estate value, understanding the true worth 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 Washtenaw County for work

We are aware of the stress associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any new sales or listings in their area that they want considered during our detailed inspection.

Sell your home promptly — at an accurate price

Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.

We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted 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.

Let RJE Real Estate Appraisal Service assist you in selling your home quickly at the right price