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6 Reasons you should order an appraisal from Russell Appraisal Service

To many, an appraisal is simply one more thing on the settlement sheet for a mortgage or refinance. And even though there are a multiplying number of automated home valuation systems that may appear to be cheaper than an appraisal, nearly all lenders still need a local expert because the stakes are very high. Is obtaining a mortgage the only basis for getting an appraisal? Are there other instances when the services of a certified, independent real estate professional might be beneficial? Of course there are.

Let Russell Appraisal Service help you lower your mortgage payment

Contest your tax assessment

It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Russell Appraisal Service is your best evidence when building your case. At Russell Appraisal Service, we're capable of assisting you in appealing your tax assessment.

PMI removal to reduce your mortgage payment

When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, many lenders ask buyers to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Russell Appraisal Service can provide you with a statement regarding the value of your home. The cost of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.

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Divorce settlement with less stress

A divorce is a particularly horrible ordeal for the parties involved, and it is often further complicated by the hard decision of who gets the home. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from Russell Appraisal Service, regardless of the situation.

If the parties wish 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.

Ascertain a fair and accurate valuation for estate liquidation

The death of 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 real estate involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.

Relocate to or from Travis County for work

We are familiar with the stress associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, as well as information about any new sales or listings in their area that they want considered.

Close on your home quickly — at an accurate price

Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.

We determine 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, seeking 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.

Let Russell Appraisal Service assist you in selling your home quickly at the right price