Why you should get an appraisal
To a lot of people, an appraisal just looks like another fee in the long list of items for a home purchase or refinance. Most lenders still need a local expert because the stakes are very high, even though there are a developing number of automated home valuation processes that might appear more cost-effective than an appraisal. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are other instances when the services of a licensed, independent real estate professional could come in handy.
Contest your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Ascension Appraisal is your best evidence when building your case. At Ascension Appraisal, we're qualified to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, almost all lenders ask home owners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often 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 - dips below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Ascension Appraisal will produce a statement regarding the value of your home, and the expense of the appraisal can usually be recovered 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 troublesome decision of who gets the home, and it can be a very horrible occurrence for both parties. Regardless of the situation, it's a good idea to get an appraisal from Ascension Appraisal so both parties are entirely aware of the true market value of their home.
The parties will have a clearer picture 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 evaluation.
Ascertain a fair and accurate 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 residential property involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Worcester County for work
We understand the stress involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at an accurate 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 selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value items 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 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, because we're experts in knowing how long houses stay on the market.