Reasons to choose an appraisal from LHC Appraisals
Thousands of people in Texas buy, sell or refinance their home each month. Many of these transactions involve a simple line item for an appraisal. Most lenders still need a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation systems that might seem more cost-effective than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there other cases when the services of a certified, independent real estate professional could come in handy? You bet.
Dispute your tax assessment in Denton County
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your home, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from LHC Appraisals is your best evidence when building your case. At LHC Appraisals, we're capable of assisting you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, many lenders ask home buyers to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. This is bad because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove 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 usually be regained in just a few months 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 can be an especially daunting experience for both parties, and it is often more complicated by the challenging decision of who keeps the home. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from LHC Appraisals, regardless of the circumstances.
The parties will have a good 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 gotten a fair evaluation.
Accurate and fair estate liquidation
The death of a loved one is a difficult 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Denton County through an employee relocation program
We are aware of the headaches involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide input on the positive characteristics of their property, as well as information regarding any new sales or listings in their area that they want considered.
Sell your home promptly — at the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision regarding your asking price. 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 determine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, seeking a professional appraisal is a trusted way to determine what improvements will add value and what an appropriate 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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