6 Reasons you should order an appraisal from KEY INSIGHT
To a lot of us, an appraisal just looks like a line item on the settlement sheet for a home purchase or refinance. Even though there are an increasing number of automated home valuation methods that may seem more practical than an appraisal, most lenders still need a local expert because the stakes are very high. Is obtaining a mortgage the only reason to get an appraisal? Are there other cases when the services of a certified, independent real estate professional could come in handy? Of course there are.
Appeal your tax assessment in Oneida County
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from KEY INSIGHT is your best evidence when building your case. We can assist you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
KEY INSIGHT can provide you with a statement regarding the value of your home, and the cost of the home valuation can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the hard decision of who gets the house, and it can be a very daunting experience for both parties. 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, regardless of the situation.
The parties will have a a good idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Oneida County for work
We are familiar with the headaches involved 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 input on the positive attributes of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on 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 can help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking 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, because we're experts in knowing how long houses stay on the market.