Reasons to order an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT
Each year, thousands of people in Louisiana purchase, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are very high, even though there are a budding number of automated home valuation systems that might appear to be more practical than an appraisal. You might think that obtaining a mortgage is the only reason to acquire an appraisal, but there are additional times when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your house, 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. We're capable of assisting you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, many lenders ask home owners to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate the PMI installments 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 cost of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is a particularly traumatic experience for the parties involved, and it is often even more complicated by the hard decision of who gets the property. It's a good idea to order an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT so both parties are completely aware of the true market value of their property, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
The loss of 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. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Ouachita County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Sell your home promptly — at an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you choose 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 amount the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
We analyze 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 homesare on the market. So, getting 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.