Reasons to hire an appraiser
To a lot of people, an appraisal just looks like another cost in the long list of items for a mortgage or refinance. Most lenders still call for a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that may seem cheaper than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could be beneficial.
Contest your tax assessment in Washtenaw County
It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your home, so if prices are less than what they used to be in your neighborhood, 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 disputing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, most lenders ask buyers to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls 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) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
RJE Real Estate Appraisal Service will provide you with a statement regarding the value of your home, and the price you paid for the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a very traumatic ordeal for both parties, and it is often even more complicated by the burdensome decision of who gets the house. Regardless of the circumstances, it's a good idea to get an appraisal from RJE Real Estate Appraisal Service so both parties are fully aware of the true market value of their home.
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 received a fair assessment.
Accurate and fair estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. We ensure the fullest 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 manage these matters, unlike wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Washtenaw County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide remarks on the positive aspects of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — for an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining 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 houses are one the market.