Reasons to order an appraisal from Greater Orlando Appraisal Assoc., Inc.
Thousands of people in Florida buy, sell or refinance their home every year. A lot of these transactions involve a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that might seem more prudent than an appraisal. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are more situations when the services of a licensed, independent real estate professional could be beneficial.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your house, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Greater Orlando Appraisal Assoc., Inc. is your best evidence when building your case. We can assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, many lenders ask homeowners to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Greater Orlando Appraisal Assoc., Inc. will provide you with a statement regarding the value of your home, and the expense of the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a particularly horrible experience for the parties involved, and it is often more complicated by the strenuous decision of who maintains the home. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from Greater Orlando Appraisal Assoc., Inc., regardless of the situation.
The parties will have a better idea of what price to set, if they want to sell the home. And 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 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 real estate involved. We guarantee the utmost 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 a disproportionate share of the total estate value, understanding 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.
Relocate to or from Orange County for work
We know the headaches involved with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive features of their property, as well as information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — for the right price
Whether 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 better educated decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, getting a professional appraisal is a reliable way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.