Reasons to order an appraisal from Alabama Appraisal Associates
Year after year, thousands of people in Alabama purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Almost 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 may seem cheaper than an appraisal. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are more cases when the services of a certified, independent real estate professional might come in handy.
Dispute your tax assessment in Marshall County
If you are 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. We're equipped to assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, many lenders ask home owners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Alabama Appraisal Associates can produce a statement regarding the value of your home. The cost of the appraisal can generally be recovered 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 further complicated by the strenuous decision of who keeps the property. Regardless of the circumstances, it's a good idea to order an appraisal from Alabama Appraisal Associates so both parties are fully aware of the true market value of their house.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a painful 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, ensuring the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Marshall County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects 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 — at an accurate price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, getting 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.