Why you should get an appraisal from Greater Orlando Appraisal Assoc., Inc.
Each year, thousands of people in Florida purchase, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. Even though there are a budding number of automated home valuation methods that may appear more economical than an appraisal, nearly all lenders still call for a local expert because the stakes are very high. Is getting a mortgage the only reason you should get an appraisal? Are there other times when the services of a certified, independent real estate professional could be helpful? You bet.
Challenge your tax assessment in Orange County
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your home, so if prices are less than what they used to be in your area, 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 equipped to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask homebuyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Oftentimes, this added payment is bundled into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. 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. can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is an especially daunting ordeal for the parties involved, and it is often more complicated by the strenuous decision of who maintains the home. It's a good idea to get an appraisal from Greater Orlando Appraisal Assoc., Inc. so both parties are entirely aware of the true market value of their property, regardless of the circumstances.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails 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 don't have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received 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 setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive features of their property, as well as information about any new sales or listings in their area that they want considered.
Sell your home promptly — at the right price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long properties are one the market.