6 Reasons to order an appraisal from LHC Appraisals
To a lot of us, an appraisal just looks like one more thing on the break-sheet for a home purchase or refinance. The majority of lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that may appear more cost-effective than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there also cases when the services of a certified, independent real estate professional might come in handy? You bet there are.
Challenge your tax assessment in Denton County
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 determined by a past assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from LHC Appraisals is your best evidence when building your case. We're equipped to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. Oftentimes, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. This is bad because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. 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 will give you a statement regarding the value of your home. The cost of the appraisal can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially traumatic experience for both parties, and it is often further complicated by the challenging decision of who gets the home. Regardless of the situation, it's a good idea to get an appraisal from LHC Appraisals so both parties are fully aware of the true market value of their house.
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.
Determine an accurate and fair valuation for estate liquidation
The death of a loved one is a painful 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, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. And since a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Denton County for work
We understand the stress involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on 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 choose 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 based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value items 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 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, because we're experts in knowing how long properties stay on the market.
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