Reasons to get an appraisal from Slater Real Estate Services
Each year, thousands of people in Colorado purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Even though there are a budding number of automated home valuation processes that might seem more prudent than an appraisal, almost all lenders still need a local expert because the stakes are incredibly high. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are other cases when the services of a licensed, independent real estate professional might be beneficial.
Appeal your tax assessment in Weld County
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your house, so if values 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. At Slater Real Estate Services, we're equipped to assist you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the property, most lenders ask homeowners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often lumped into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Slater Real Estate Services can give you a statement regarding the value of your home, and the cost of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the strenuous decision of who keeps the property, and it can be an especially horrible experience for both parties. Regardless of the situation, it's a good idea to get an appraisal from Slater Real Estate Services so both parties are entirely aware of the true market value of their property.
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.
Fair and accurate estate liquidation
The death 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. And since 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 vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Weld County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, along with information about any recent sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — at the right price
Whether you choose 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 when determining your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to finish 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. Seeking a professional appraisal is a reliable way to decide 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 properties stay on the market.