Let Greater Orlando Appraisal Assoc., Inc. take care of your appraisal needs
Thousands of people in Florida buy, sell or refinance their home every month. Most of these transactions include a simple line item for an appraisal. And even though there are a developing number of automated home valuation processes that may seem more cost-effective than an appraisal, most lenders still want a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there more instances when the services of a certified, independent real estate professional could be helpful? You bet there are.
Appeal your tax assessment
If you are in an area where property values have 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. At Greater Orlando Appraisal Assoc., Inc., we're capable of assisting you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Greater Orlando Appraisal Assoc., Inc. can give you a statement regarding the value of your home. The cost of the appraisal can often be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is an especially horrible experience for the parties involved, and it is often further complicated by the strenuous decision of who keeps the property. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Greater Orlando Appraisal Assoc., Inc., regardless of the situation.
If the parties wish to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine an accurate and fair valuation for estate liquidation
Losing 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 utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Orange County through an employee relocation program
We are aware of the stress involved with an employee relocation. That's why we take great care in organizing a convenient 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 new sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — for the right price
A professional appraisal can help you make a more informed decision regarding your selling 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 price the house sells for, unlike real estate agents. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. 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 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.