Why you should hire an appraiser
Thousands of people in Florida buy, sell or refinance their home each year. Most of these transactions consist of a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that may appear to be cheaper than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are additional situations when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment in Orange County
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a previous assessment of your real estate, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Greater Orlando Appraisal Assoc., Inc. is your best evidence when building your case. We're equipped to assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, many lenders ask buyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. 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.
If you'd like to eliminate PMI, Greater Orlando Appraisal Assoc., Inc. can give you a statement regarding the value of your home. The cost of the home valuation 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 can be a very traumatic ordeal for both parties, and it is often further complicated by the burdensome decision of who keeps the home. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from Greater Orlando Appraisal Assoc., Inc., regardless of the situation.
If the parties want to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The loss of a loved one is a difficult 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Orange County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Sell your home quickly — at an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable 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, because we're experts in knowing how long properties are one the market.