Reasons to order an appraisal from LHC Appraisals
Thousands of people in Texas purchase, sell or refinance their home every year. Many of these transactions involve a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might appear to be more prudent than an appraisal. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional times when the services of a certified, independent real estate professional might be helpful.
Challenge your tax assessment
It's likely 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 past assessment of your home, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that most lenders ask homebuyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. Oftentimes, this added payment is folded into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, LHC Appraisals can produce a statement regarding the value of your home. The expense of the home valuation can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a particularly traumatic event for the parties involved, and it is often further complicated by the hard decision of who keeps the property. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from LHC Appraisals, regardless of the circumstances.
The parties will have a better idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Ascertain 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 calls for 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, guaranteeing the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Denton 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 a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any new sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a reliable way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.
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