Let Greater Orlando Appraisal Assoc., Inc. serve your appraisal needs
To a lot of us, an appraisal just looks like another fee on the settlement sheet for a home sale or refinance. While there are a budding number of automated home valuation processes that might appear to be more cost-effective than an appraisal, practically all lenders still need a local expert because the stakes are very high. Is obtaining a mortgage the only reason to get an appraisal? Are there also cases when the services of a licensed, independent real estate professional might be helpful? You bet there are.
Dispute your tax assessment in Orange County
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a previous assessment of your home, so if values 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.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, almost all lenders ask homebuyers to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the remaining balance 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 do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Greater Orlando Appraisal Assoc., Inc. will provide you with a statement regarding the value of your home. The price you paid for the home valuation can generally be regained in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially daunting ordeal for both parties, and it is often more complicated by the troublesome decision of who gets the home. It's a good idea to get an appraisal from Greater Orlando Appraisal Assoc., Inc. so both parties are completely aware of the true market value of their house, regardless of the situation.
The parties will have a a good idea 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 received a fair evaluation.
Accurate and fair estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not 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 understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Orange County for work
Employee relocation can be a stressful event, and we understand. That being said, 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 input on the positive features of their property, as well as information about any recent sales or listings in their area that they want considered.
Close on your home promptly — at an accurate price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, 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.