6 Reasons to consider an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT
To a lot of people, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. And even though there are a multiplying number of automated home valuation methods that may appear to be more practical than an appraisal, the majority of 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 situations when the services of a licensed, independent real estate professional could come in handy? Absolutely.
Contest your tax assessment in Ouachita County
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your real estate, so if values 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. At J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT, we're equipped to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, many lenders ask homebuyers to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is promptly forgotten. This is bad because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT can produce a statement regarding the value of your home, and the expense of the home valuation can usually be regained in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is an especially daunting experience for the parties involved, and it is often further complicated by the hard decision of who keeps the house. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT, regardless of the situation.
The parties will have a better idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle 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.
Move to or from Ouachita County through an employee relocation program
Employee relocation is a stressful event, and we understand. 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 about any current sales or listings in their area that they want considered during our thorough inspection.
Close on your home promptly — for the right price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, 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.