Reasons to order an appraisal

Thousands of people in Washington buy, sell or refinance their home every year. Many of these transactions consist of a simple line item for an appraisal. And even though there are a developing number of automated home valuation methods that may appear to be more practical than an appraisal, the majority of lenders still call for a local expert because the stakes are incredibly high. You might assume that securing a mortgage is the only reason to get an appraisal, but there are other cases when the services of a certified, independent real estate professional might come in handy.

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Challenge 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 previous assessment of your real estate, so if values are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from Kent & Associates Appraisal is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.

PMI removal to reduce a mortgage payment

When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, nearly all lenders ask home owners to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.

Kent & Associates Appraisal will produce a statement regarding the value of your home, and the cost of the home valuation can usually be recovered in little time because you'll no longer be paying the PMI.

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Divorce settlement with fewer hang-ups

A divorce is often complicated by the burdensome decision of who keeps the home, and it can be a particularly traumatic ordeal for both parties. It's a good idea to get an appraisal from Kent & Associates Appraisal so both parties are completely aware of the true market value of their house, regardless of the situation.

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.

Accurate and fair estate liquidation

The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for 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 utmost degree of discretion.

Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthier individuals. A home or other property often makes up a disproportionate 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 gotten a fair deal.

Relocate to or from Snohomish County through an employee relocation program

Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient 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 regarding any new sales or listings in their area that they want considered.

Close on your home quickly — for an accurate price

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. Unlike 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 based on our efforts to finish the appraisal report.

We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking 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 properties are one the market.

Let Kent & Associates Appraisal assist you in selling your home quickly at the right price