Let Greater Orlando Appraisal Assoc., Inc. serve your appraisal needs
Thousands of people in Florida buy, sell or refinance their home each year. A lot of these transactions involve a simple line item for an appraisal. Nearly all lenders still call in a local expert because the stakes are so high, even though there are a budding number of automated home valuation systems that may appear to be more prudent than an appraisal. You might assume that obtaining a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a licensed, independent real estate professional could be helpful.
Challenge your tax assessment in Orange County
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your home, so if prices have gone down in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homeowners to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Most often, this additional payment is lumped into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't required 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 implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Greater Orlando Appraisal Assoc., Inc. will give you a statement regarding the value of your home, and the cost of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially daunting ordeal for both parties, and it is often further complicated by the strenuous decision of who gets the property. 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 situation.
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 assessment.
Ascertain an accurate and fair valuation for estate liquidation
Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal 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 gotten an honest deal.
Relocate to or from Orange County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — at an accurate price
A professional appraisal will help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a reliable way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.