6 Reasons you should order an appraisal from Russell Appraisal Service
To a lot of us, an appraisal just looks like a line item on the break-sheet for a home sale or refinance. And while there are a developing number of automated home valuation systems that may seem more practical than an appraisal, nearly all lenders still call in a local expert because the stakes are very high. You might think that securing a mortgage is the only reason to get an appraisal, but there are additional times when the services of a certified, independent real estate professional might come in handy.
Dispute your tax assessment in Travis County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homeowners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. This additional payment is often folded into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring 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, Russell Appraisal Service will give you a statement regarding the value of your home. The cost of the appraisal can often be regained 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 can be a very traumatic ordeal for both parties, and it is often even more complicated by the strenuous decision of who gets the home. It's a good idea to order an appraisal from Russell Appraisal Service so both parties are completely aware of the true market value of their property, regardless of the situation.
If the parties need to sell the home, they'll have a better idea of what price to set. 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
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these matters. 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 a fair deal.
Move to or from Travis County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Sell your home promptly — for the right price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
We analyze 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 housesstay on the market. So, getting a professional appraisal is a reliable way to determine 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.