Reasons to order an appraisal from Greater Orlando Appraisal Assoc., Inc.
To a lot of us, an appraisal just looks like a line item on the settlement sheet for a home sale or refinance. While there are a multiplying number of automated home valuation methods that might seem more economical than an appraisal, the majority of lenders still want a local expert because the stakes are very high. Is obtaining a mortgage the only reason to get an appraisal? Are there also cases when the services of a certified, independent real estate professional could be helpful? Of course.
Challenge your tax assessment
If you are in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, almost all lenders ask homebuyers to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Greater Orlando Appraisal Assoc., Inc. will give you a statement regarding the value of your home, and the cost of the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the strenuous decision of who gets the house, and it can be an especially daunting event for both parties. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from Greater Orlando Appraisal Assoc., Inc., regardless of the circumstances.
The parties will have a good idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Ascertain 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 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, guaranteeing the highest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike many wealthy 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 vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Orange County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — for the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price 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.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare 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.