Why you should get an appraisal from Prestige Appraisal, LLC
To a lot of people, an appraisal is simply another fee in the long list of items for a mortgage or refinance. And while there are a growing number of automated home valuation methods that may appear to be cheaper than an appraisal, most lenders still call in a local expert because the stakes are so high. Is securing a mortgage the only reason to get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional might be beneficial? Absolutely.
Challenge your tax assessment in Jackson County
It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your house, so if values have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from Prestige Appraisal, LLC is your best evidence when building your case. At Prestige Appraisal, LLC, we're capable of assisting you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, almost all lenders ask homebuyers to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is soon forgotten. This is damaging because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Prestige Appraisal, LLC will produce a statement regarding the value of your home. The expense of the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the burdensome decision of who gets the house, and it can be an especially horrible ordeal for both parties. It's a good idea to order an appraisal from Prestige Appraisal, LLC so both parties are entirely aware of the true market value of their home, regardless of the situation.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. And seeing that 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 gotten a fair deal.
Move to or from Jackson County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Sell your home quickly — at the right price
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 asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate 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.