Why you should order an appraisal from Greater Orlando Appraisal Assoc., Inc.
To a lot of people, an appraisal is simply one more thing on the settlement sheet for a home purchase or refinance. Most lenders still call in a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that might seem more practical than an appraisal. You might assume that securing a mortgage is the only reason to acquire an appraisal, but there are other times when the services of a licensed, independent real estate professional might come in handy.
Contest your tax assessment in Orange County
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 real estate, 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. At Greater Orlando Appraisal Assoc., Inc., we're qualified to assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homeowners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the home. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. This is bad because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Greater Orlando Appraisal Assoc., Inc. can produce a statement regarding the value of your home, and the price you paid for the appraisal can usually be recovered in a short amount of 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 maintains the property, and it can be an especially horrible occurrence for both parties. 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 circumstances.
The parties will have a better idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The loss 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Orange County for work
We understand the stress involved 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 remarks on the positive characteristics of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — at 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 more informed 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 are based on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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, because we're experts in knowing how long properties are one the market.