Reasons to get an appraisal
Each year, thousands of people in Florida purchase, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation methods that may appear cheaper than an appraisal. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional instances when the services of a licensed, independent real estate professional might be beneficial.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At ASAP Appraisal Group, we're equipped to assist you in challenging your tax assessment.
PMI removal to lower 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 supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
ASAP Appraisal Group can produce a statement regarding the value of your home, and the price you paid for the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
Get your appraisal from ASAP Appraisal GroupOrder today
Settle a divorce with fewer hang-ups
A divorce is a very daunting event for the parties involved, and it is often even more complicated by the strenuous decision of who keeps the house. It's a good idea to get an appraisal from ASAP Appraisal Group so both parties are completely aware of the true market value of their house, regardless of the situation.
If the parties wish 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 gotten a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The loss of a loved one is a painful 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, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. And since a home or other property often makes up an unequal share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Polk County through an employee relocation program
We are familiar with the stress involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive features of their property, along with information about any current sales or listings in their area that they want considered.
Close on your home promptly — at the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted 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, because we're experts in knowing how long homes are one the market.