6 Reasons you should order an appraisal from Greater Orlando Appraisal Assoc., Inc.
Thousands of people in Florida buy, sell or refinance their home each year. A lot of these transactions consist of a simple line item for an appraisal. Even though there are an increasing number of automated home valuation systems that may seem cheaper than an appraisal, practically all lenders still call in a local expert because the stakes are incredibly high. Is securing a mortgage the only reason you should get an appraisal? Are there also times when the services of a licensed, independent real estate professional might be beneficial? Of course.
Contest your tax assessment
If you reside in an area where the property value 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. At Greater Orlando Appraisal Assoc., Inc., we're capable of assisting you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, almost all lenders ask buyers to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress implemented 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.
Greater Orlando Appraisal Assoc., Inc. will produce a statement regarding the value of your home, and the cost of the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the difficult decision of who gets the home, and it can be a particularly traumatic ordeal for both parties. 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.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The death of a loved one is a painful 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Orange County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information about any recent sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze 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 propertiesare on the market. So, getting a professional appraisal is a reliable way to decide 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.