Reasons to order an appraisal from Warrenton Appraisal Group
Every year, thousands of people in Virginia purchase, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. And while there are a budding number of automated home valuation methods that might appear more cost-effective than an appraisal, nearly all lenders still want a local expert because the stakes are very high. Is getting a mortgage the only reason to acquire an appraisal? Are there other situations when the services of a certified, independent real estate professional might be beneficial? Absolutely.
Contest your tax assessment
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance policy that many lenders ask homebuyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. More often than not, this extra payment is bundled into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Warrenton Appraisal Group will provide you with a statement regarding the value of your home. The price you paid for the home valuation can often be offset in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce can be an especially daunting experience for both parties, and it is often even more complicated by the difficult decision of who gets the house. Regardless of the circumstances, it's a good idea to order an appraisal from Warrenton Appraisal Group so both parties are fully aware of the true market value of their property.
The parties will have a clearer picture of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received 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 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, ensuring the highest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. And since a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Fauquier County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home quickly — at an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, getting 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.