Why you should order an appraisal
To a lot of us, an appraisal is simply a line item in the long list of items for a home purchase or refinance. Even though there are a developing number of automated home valuation systems that may appear to be more economical than an appraisal, most lenders still need a local expert because the stakes are so high. Is securing a mortgage the only basis for getting an appraisal? Are there more instances when the services of a licensed, independent real estate professional could be helpful? Of course there are.
Contest your tax assessment in Tuscaloosa County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your home, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that most lenders ask homeowners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Shamrock Appraisals, Inc. will produce a statement regarding the value of your home, and the cost of the appraisal can often be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a very horrible experience for both parties, and it is often more complicated by the burdensome decision of who keeps the home. It's a good idea to order an appraisal from Shamrock Appraisals, Inc. so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a difficult 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, guaranteeing the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Tuscaloosa County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information about any new sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — at the right price
A professional appraisal can help you make a more informed decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, obtaining 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.