6 Reasons to order an appraisal from Kent & Associates Appraisal
Every year, thousands of people in Washington purchase, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. Even though there are a developing number of automated home valuation methods that might appear more practical than an appraisal, nearly all lenders still need a local expert because the stakes are so high. Is obtaining a mortgage the only reason to get an appraisal? Are there other cases when the services of a certified, independent real estate professional might come in handy? Of course there are.
Appeal your tax assessment
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. 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 challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, most lenders ask homebuyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI isn't necessary when the remainder 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 passed by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Kent & Associates Appraisal will give you a statement regarding the value of your home. The price you paid for the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is a very horrible ordeal for the parties involved, and it is often further complicated by the difficult decision of who maintains the property. It's a good idea to get an appraisal from Kent & Associates Appraisal so both parties are fully aware of the true market value of their home, 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.
Determine a fair and accurate valuation for estate liquidation
The loss of 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 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.
Most Americans don't have dedicated estate planners or executors to manage these matters, unlike wealthier individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Snohomish County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, along with information regarding any current sales or listings in their area that they want considered during our detailed inspection.
Sell your home promptly — for an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. Obtaining 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, because we're experts in knowing how long properties stay on the market.