6 Reasons to choose an appraisal from Ascension Appraisal
Each year, thousands of people in Massachusetts purchase, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. And while there are a budding number of automated home valuation methods that might seem more practical than an appraisal, practically all lenders still want a local expert because the stakes are incredibly high. Is obtaining a mortgage the only basis for getting an appraisal? Are there also cases when the services of a certified, independent real estate professional could come in handy? Of course there are.
Appeal your tax assessment
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Ascension Appraisal is your best evidence when building your case. At Ascension Appraisal, we're capable of assisting you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the home, most lenders ask home buyers to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress invoked 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.
Ascension Appraisal can produce a statement regarding the value of your home, and the cost of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a very traumatic event for the parties involved, and it is often more complicated by the challenging decision of who keeps the house. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Ascension Appraisal, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a hard 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. We guarantee the utmost 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 do not have dedicated estate planners or executors to take care of these issues. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Worcester County for work
We are aware of the stress associated with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, along with information about any new sales or listings in their neighborhood 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 will 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 aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, seeking 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.