Why you should get an appraisal
Thousands of people in Florida buy, sell or refinance their home every month. Many of these transactions contain a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that might appear more economical than an appraisal. You might think that securing a mortgage is the only basis for getting an appraisal, but there are other cases when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment in Orange County
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your real estate, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Greater Orlando Appraisal Assoc., Inc., we're capable of assisting you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homeowners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the home. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove 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 appraisal can generally be offset in little time 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 an especially horrible experience for the parties involved, and it is often further complicated by the strenuous decision of who gets the home. So both parties are entirely aware of the true market value of their property, it's a good idea to get an appraisal from Greater Orlando Appraisal Assoc., Inc., regardless of the circumstances.
The parties will have a a good 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.
Fair and accurate estate liquidation
The death 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these issues. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Orange County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered.
Close on your home promptly — at an accurate price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long homes are one the market.