Reasons to order an appraisal from Greater Orlando Appraisal Assoc., Inc.
Each year, thousands of people in Florida purchase, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. Most lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that may appear to be more prudent than an appraisal. You might assume that securing a mortgage is the only reason to get an appraisal, but there are other cases when the services of a licensed, independent real estate professional could be beneficial.
Dispute your tax assessment
If you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Greater Orlando Appraisal Assoc., Inc. is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the home. This added payment is often bundled into the monthly mortgage payment and is promptly forgotten. This is bad because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI payments 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 expense of the appraisal can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be a particularly daunting experience for both parties, and it is often further complicated by the hard decision of who keeps the house. It's a good idea to get an appraisal from Greater Orlando Appraisal Assoc., Inc. so both parties are entirely aware of the true market value of their property, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need 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 evaluation.
Ascertain an accurate and fair valuation for estate liquidation
Losing a loved one is a hard 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, 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 leave knowing they've received an honest deal.
Relocate to or from Orange County for work
Employee relocation can be a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.
Sell your home promptly — for the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to finish 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 housesare on the market. So, seeking a professional appraisal is a reliable way to decide 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.