Reasons to order an appraisal from LHC Appraisals
Thousands of people in Texas purchase, sell or refinance their home each year. Many of these transactions consist of a simple line item for an appraisal. Almost all lenders still call for a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation methods that may seem more cost-effective than an appraisal. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are other situations when the services of a licensed, independent real estate professional could come in handy.
Challenge your tax assessment
If you reside in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from LHC Appraisals is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, most lenders ask home buyers to buy this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is lumped into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress passed 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 expense of the appraisal 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 often complicated by the challenging decision of who keeps the home, and it can be an especially daunting ordeal for both parties. Regardless of the situation, it's a good idea to order an appraisal from LHC Appraisals so both parties are entirely aware of the true market value of their house.
The parties will have a good idea of what price to set, if they need 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 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth 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 for work
We understand the headaches associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information about any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — at the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling 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 examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a trusted way to determine 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.
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