Why you should order an appraisal
To many, an appraisal just looks like one more thing on the break-sheet for a home sale or refinance. Most lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that may appear to be more cost-effective than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there also instances when the services of a certified, independent real estate professional could come in handy? Absolutely.
Appeal your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your home, so if prices have gone down in your area, you can challenge your assessment and save money. An appraisal from Klein Appraisals, LLC is your best evidence when building your case. We can assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, many lenders ask homeowners to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is folded into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Klein Appraisals, LLC will give you a statement regarding the value of your home, and the cost of the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be an especially daunting event for both parties, and it is often even more complicated by the difficult decision of who maintains the house. Regardless of the circumstances, it's a good idea to order an appraisal from Klein Appraisals, LLC so both parties are entirely aware of the true market value of their home.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for 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 utmost degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these issues. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Baltimore County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any recent sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for 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 better educated decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. 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 things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, seeking a professional appraisal is a trusted way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.