Reasons to order an appraisal

Each year, thousands of people in Florida purchase, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. Even though there are an increasing number of automated home valuation methods that might seem more cost-effective than an appraisal, the majority of lenders still need a local expert because the stakes are very high. Is getting a mortgage the only reason to acquire an appraisal? Are there more times when the services of a certified, independent real estate professional could come in handy? Absolutely.

Let Greater Orlando Appraisal Assoc., Inc. assist you in lowering your mortgage payment

Dispute your tax assessment in Orange County

It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your home, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Greater Orlando Appraisal Assoc., Inc. is your best evidence when building your case. We're equipped to assist you in challenging your tax assessment.

Get rid of PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the property. Oftentimes, this added payment is folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

Greater Orlando Appraisal Assoc., Inc. can produce a statement regarding the value of your home, and the price you paid for the appraisal 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 a very daunting experience for the parties involved, and it is often more complicated by the troublesome decision of who keeps the house. It's a good idea to order 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 situation.

The parties will have a clearer picture of what price to set, if they need to sell the home. And 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 painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these matters. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Relocate to or from Orange County for work

We know the stress involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our detailed inspection.

Sell your home quickly — for the right price

Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your selling price. 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 are calculated on our efforts to complete the appraisal report.

We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, obtaining 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.

Let Greater Orlando Appraisal Assoc., Inc. assist you in selling your home quickly at the right price