6 Reasons you should order an appraisal from KEY INSIGHT
To many, an appraisal just looks like another fee on the settlement sheet for a home purchase or refinance. Practically all lenders still call in a local expert because the stakes are so high, even though there are a developing number of automated home valuation methods that might appear more economical than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are other cases when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment in Oneida County
If you reside in an area where the value of property 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. At KEY INSIGHT, we're qualified to assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, nearly all lenders ask buyers to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, KEY INSIGHT can give you a statement regarding the value of your home. The price you paid for the appraisal can generally be regained 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 can be a very horrible event for both parties, and it is often even more complicated by the burdensome decision of who gets the home. Regardless of the situation, it's a good idea to order an appraisal from KEY INSIGHT so both parties are entirely aware of the true market value of their property.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair 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. We ensure 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 handle these issues, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Oneida County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — for an accurate 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 regarding your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine 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, because we're experts in knowing how long properties stay on the market.