Reasons to consider an appraisal from Warrenton Appraisal Group
Thousands of people in Virginia buy, sell or refinance their home every month. Most of these transactions consist of a simple line item for an appraisal. And while there are a developing number of automated home valuation methods that might appear more cost-effective 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 you should get an appraisal, but there are additional instances when the services of a certified, independent real estate professional might be beneficial.
Dispute your tax assessment in Fauquier County
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a past assessment of your real estate, so if values have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Warrenton Appraisal Group is your best evidence when building your case. At Warrenton Appraisal Group, we're equipped to assist you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that nearly all lenders ask buyers to purchase when the amount being loaned to the homeowner 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 promptly forgotten. This is unfavorable because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to remove the PMI installments 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 appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be a particularly daunting experience for both parties, and it is often more complicated by the hard decision of who keeps the home. It's a good idea to get an appraisal from Warrenton Appraisal Group so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
If the parties wish 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.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding 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.
Move to or from Fauquier County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive aspects of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Sell your home quickly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate 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.