Let Alamance Appraisals handle your appraisal needs
Every year, thousands of people in North Carolina purchase, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are very high, even though there are a budding number of automated home valuation processes that may seem more economical than an appraisal. Is securing a mortgage the only reason to acquire an appraisal? Are there more situations when the services of a certified, independent real estate professional might be helpful? Absolutely.
Challenge your tax assessment
If you reside 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're capable of assisting you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, almost all lenders ask homeowners to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Alamance Appraisals can provide you with a statement regarding the value of your home, and the expense of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the challenging decision of who maintains the house, and it can be a particularly daunting event for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Alamance Appraisals so both parties are completely aware of the true market value of their home.
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 assessment.
Accurate and fair estate liquidation
Losing a loved one is a difficult 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 highest degree of discretion.
Most Americans don't 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 value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Alamance County through an employee relocation program
We are aware of the stress associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home quickly — at an accurate price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items 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 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 houses are one the market.