Reasons to get an appraisal
Every year, thousands of people in Colorado buy, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that may appear more practical than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there more cases when the services of a licensed, independent real estate professional could be beneficial? You bet there are.
Contest your tax assessment
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Slater Real Estate Services is your best evidence when building your case. At Slater Real Estate Services, we're qualified to assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that almost all lenders ask home owners to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Most often, this added payment is lumped into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Slater Real Estate Services will give you a statement regarding the value of your home. The price you paid for the home valuation can generally be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a very horrible event for both parties, and it is often even more complicated by the strenuous decision of who maintains the home. Regardless of the circumstances, it's a good idea to get an appraisal from Slater Real Estate Services so both parties are fully aware of the true market value of their property.
If the parties want 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 received a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Weld County for work
We know the stress associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive characteristics of their property, along with information regarding any new sales or listings in their area that they want considered.
Sell your home quickly — at the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
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 homesstay on the market. So, seeking a professional appraisal is a reliable 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.