Reasons to hire an appraiser
Year after year, thousands of people in Florida purchase, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. Even though there are an increasing number of automated home valuation processes that might appear to be cheaper than an appraisal, most lenders still call in a local expert because the stakes are incredibly high. Is securing a mortgage the only reason to get an appraisal? Are there more situations when the services of a certified, independent real estate professional could be helpful? Of course there are.
Challenge your tax assessment
If you reside in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Greater Orlando Appraisal Assoc., Inc. is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, almost all lenders ask homeowners to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Greater Orlando Appraisal Assoc., Inc. will produce a statement regarding the value of your home, and the cost of the home valuation 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 take make a divorce settlement less stressful
A divorce is often complicated by the burdensome decision of who maintains the house, and it can be a very horrible event for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Greater Orlando Appraisal Assoc., Inc. so both parties are fully aware of the true market value of their home.
The parties will have a a good idea of what price to set, if they want 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.
Ascertain an accurate and fair valuation for estate liquidation
The loss of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. A home or other property often makes up a disproportionate share of the total estate value, so 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.
Move to or from Orange County through an employee relocation program
We are aware of the stress associated with an employee relocation. We take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information about any current sales or listings in their area that they want considered during our detailed inspection.
Close on your home promptly — for the right price
A professional appraisal can help you make a more informed decision regarding your selling price, whether you want 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 price the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things 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 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, because we're experts in knowing how long homes stay on the market.