6 Reasons you should order an appraisal from Kent & Associates Appraisal
To many, an appraisal is simply another cost on the settlement sheet for a mortgage or refinance. Most lenders still call in a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation systems that might seem more prudent than an appraisal. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are more situations when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment
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 determined by a past assessment of your house, so if values have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Kent & Associates Appraisal is your best evidence when building your case. At Kent & Associates Appraisal, we're equipped to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Very often, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Kent & Associates Appraisal will provide you with a statement regarding the value of your home, and the expense of the home valuation can often be offset in a short amount of 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 challenging decision of who gets the home, and it can be a particularly daunting occurrence for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Kent & Associates Appraisal so both parties are completely aware of the true market value of their home.
The parties will have a better idea of what price to set, if they need to sell the home. And on the flip side, 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 painful 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. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. 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 gotten a fair deal.
Relocate to or from Snohomish County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, along with information about any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — at an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you decide 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 are based on our efforts to complete the appraisal report.
We analyze 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 stay on the market.