Reasons to get an appraisal
To many, an appraisal just looks like a line item on the settlement sheet for a home purchase or refinance. Almost all lenders still need a local expert because the stakes are so high, even though there are a developing number of automated home valuation systems that may appear more practical than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there more instances when the services of a certified, independent real estate professional could come in handy? You bet.
Challenge your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can challenge 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 qualified to assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that nearly all lenders ask homebuyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is bad because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT can provide you with a statement regarding the value of your home, and the price you paid for the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is an especially traumatic event for the parties involved, and it is often more complicated by the burdensome decision of who keeps the home. So both parties are fully 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 circumstances.
If the parties need to sell the home, they'll have a better 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 received a fair assessment.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a hard 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 maximum 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 do not have dedicated estate planners or executors to take care of these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten 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 establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback 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 thorough inspection.
Sell your home promptly — for the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine 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 homesstay on the market. So, seeking a professional appraisal is a reliable 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.