Reasons to order an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT
To a lot of people, an appraisal just looks like another cost on the break-sheet for a home purchase or refinance. While there are an increasing number of automated home valuation processes that may seem more cost-effective than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. Is obtaining a mortgage the only reason to get an appraisal? Are there also times when the services of a certified, independent real estate professional could come in handy? Of course.
Dispute your tax assessment
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 determined by a past assessment of your home, so if prices have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT is your best evidence when building your case. At J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT, we're equipped to assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask homebuyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the United States Congress passed 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.
J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT can give you a statement regarding the value of your home, and the expense of the home valuation can generally be regained in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce can be an especially daunting event for both parties, and it is often more complicated by the strenuous decision of who maintains the home. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT, regardless of the situation.
If the parties wish to sell the home, they'll have a clearer picture 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.
Accurate and fair estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. We guarantee 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 don't have dedicated estate planners or executors to take care of these issues. 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 vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Ouachita County for work
We understand the stress involved with an employee relocation. 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 features of their property, as well as information about any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — at the right 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 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 aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted way to determine what improvements will add value and what an applicable 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 houses are one the market.