Reasons to order an appraisal
To a lot of us, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. While there are a developing number of automated home valuation processes that might appear to be more practical than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. You might assume that securing a mortgage is the only reason to get an appraisal, but there are other situations when the services of a certified, independent real estate professional could be beneficial.
Dispute your tax assessment in Fauquier County
If you are in an area where the property value has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the property, most lenders ask home buyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the United States Congress implemented 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.
Warrenton Appraisal Group will provide you with a statement regarding the value of your home, and the expense of the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is often complicated by the hard decision of who maintains the home, and it can be a particularly traumatic occurrence for both parties. It's a good idea to get an appraisal from Warrenton Appraisal Group so both parties are fully aware of the true market value of their property, regardless of the situation.
The parties will have a better idea of what price to set, if they need to sell the home. And 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 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, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move 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 establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, obtaining 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.