Reasons to hire an appraiser

To many, an appraisal just looks like one more thing in the long list of items for a mortgage or refinance. And while there are an increasing number of automated home valuation systems that might appear to be more practical than an appraisal, practically all lenders still call in a local expert because the stakes are so high. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a certified, independent real estate professional might be helpful? Of course there are.

Let Greater Orlando Appraisal Assoc., Inc. help you lower your mortgage payment

Contest your tax assessment

If you are 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 can assist you in appealing your tax assessment.

PMI removal to reduce a mortgage payment

When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask home buyers to buy this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. 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 get rid of PMI, Greater Orlando Appraisal Assoc., Inc. can provide you with a statement regarding the value of your home. The cost of the appraisal can generally be regained in little time because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce is often complicated by the hard decision of who gets the home, and it can be a particularly traumatic event for both parties. 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 property, regardless of the circumstances.

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 gotten a fair evaluation.

Determine a fair and accurate valuation for estate liquidation

Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for 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 fullest degree of discretion.

Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocate to or from Orange County for work

We are aware of the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide remarks on the positive features of their property, along with information regarding any recent sales or listings in their area that they want considered.

Sell your home promptly — at an accurate price

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.

We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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, because we're experts in knowing how long homes stay on the market.

Let Greater Orlando Appraisal Assoc., Inc. help you sell your home quickly at the right price