6 Reasons to consider an appraisal from Ascension Appraisal
To a lot of us, an appraisal is simply one more thing on the settlement sheet for a mortgage or refinance. The majority of lenders still call in a local expert because the stakes are very high, even though there are a growing number of automated home valuation systems that might seem more practical than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there more instances when the services of a licensed, independent real estate professional might be helpful? Of course.
Challenge your tax assessment in Worcester County
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a previous assessment of your home, so if prices 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. We can assist you in appealing 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 property, most lenders ask homeowners to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is quickly 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 - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Ascension Appraisal can provide you with a statement regarding the value of your home, and the expense of the home valuation can usually be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a particularly traumatic experience for the parties involved, and it is often more complicated by the hard decision of who gets the house. So both parties are fully 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 better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate 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, ensuring the utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an unequal share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Worcester County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide remarks on the positive features of their property, as well as information about any current sales or listings in their area that they want considered.
Close on your home promptly — for the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items 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 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.