WHY GET AN APPRAISAL?

PURCHASING A HOME
Whether financing a home thru a mortgage or paying cash, having a licensed or certified appraiser provide an independent professional value opinion has become recognized as a necessary, valuable part of a real estate transaction.  "Let's bring in the expert and make sure we're not spending too much on this property." The appraisal may set your mind to ease that you are getting a fair deal on the property or it may provide leverage for renegotiation if it turns out that the price is too high. 

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REFINANCE OR GET A HOME EQUITY LOAN
If you want to tap into the equity of your home whether to consolidate bills, pay a college tuition, take that dream vacation- you'll need a new loan, which typically requires a new appraisal of the property.  Talk with your Lender as they will be in the best position to determine what the valuation requirements will be. 
 
PMI REMOVAL
Private Mortgage Insurance or PMI is the supplemental insurance that many lenders require home buyers to purchase when the amount being loaned is more than 80% of the value of the home. PMI becomes unnecessary when the remaining balance of the loan dips below this 80% level. For a modest fee, the appraiser can provide you with a statement regarding the home value.  The cost of the appraisal service is very often recovered in just a few months of not paying the PMI.

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DIVORCE SETTLEMENT
A divorce is often an unsettling experience for both parties and is often further complicated by the difficult decision of "Who gets the house?".  It's a good idea to order an appraisal so both parties are fully aware of the true market value.

If the parties want to sell the home, they'll have a better idea of what price to set.  If one party decides to "buyout" the home, both parties will feel like they've received a fair assessment of value. 
 
ESTATE LIQUIDATION
The loss of a loved one is an especially traumatic time in life and settling an estate often requires an appraisal to establish Fair Market Value for the residential property involved.  An appraiser can help.  Often the first step in fairly disposing of an estate is to understand its true value.  

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TAX APPEAL
Do you believe that the County assessment of your property is inflated? Valuation by a professional state certified appraiser can help you determine whether or not you may be over-paying on your real estate taxes. If you decide to file a tax appeal a professional appraisal report is often required. The real estate appraiser is not a tax or legal professional so it would be a good idea to check on real estate tax laws in your county with a qualified professional. 

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HOME IMPROVEMENTS TO ADD VALUE 
Have you been thinking of making updates or changes to your home? Whether for their personal enjoyment or prior to selling their home many homeowners  wonder  "Would it be better to paint the entire house before we sell it? Install new flooring?" "Should I put in that in-ground pool?" "What about a kitchen remodel?"  "Will it affect my value if I convert my 4th bedroom to a 3rd bath?" Most things we do to our houses have an effect on their value.  Unfortunately, not all of them have an equal effect and it is often true that cost does not equal value. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense. Consulting with a value expert prior to beginning construction projects can help you maximize the return on your investment and may save you from spending thousands of unnecessary dollars.

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BUILDING A NEW HOME

Many reputable builders will provide a detailed list of the costs necessary to build your new home. However, you may wonder if the cost to build is reasonable considering the market in which the home is to be built. In the excitement of building your dream home, picking out colors and finishes, you may have lost sight that your new home is a large financial investment and even if you plan to live in it for your entire lifetime and pass it down to your children it's best to know that you're making a solid financial decision. Are all the unique and custom features I want going to increase the value of the property? An unbiased appraisal can answer that question for you. 

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SELLING A HOME 
Whether you choose 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 when determining your selling price. 

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PURCHASING AN INVESTMENT PROPERTY

Ready to make an investment in a second home or rental property? Have a child going to college and trying to decide if it would make more sense to purchase a student rental than pay dorm fees? The appraiser's study of the rental market in your area can help build your confidence in making a sound investment. 

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