Why you should hire an appraiser
To many, an appraisal just looks like another fee on the break-sheet for a mortgage or refinance. Even though there are a growing number of automated home valuation systems that might appear to be more cost-effective than an appraisal, practically all lenders still call in a local expert because the stakes are so high. Is securing a mortgage the only reason you should get an appraisal? Are there also instances when the services of a licensed, independent real estate professional could come in handy? Of course.
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 depreciated. Ad Valorem taxes are based upon a past assessment of your real estate, so if prices are less than what they used to be in your area, you can appeal 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 your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the property, many lenders ask home owners to buy this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
LHC Appraisals will provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be recovered 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 is a very horrible experience for the parties involved, and it is often more complicated by the challenging decision of who keeps the property. So both parties are fully aware of the true market value of their property, it's a good idea to get 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 on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten 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 requires an appraisal to establish Fair Market Value for the residential property involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate 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 organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — at an accurate price
A professional appraisal can 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. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value things like an extra 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 homes are one the market.
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