Reasons to order an appraisal from Hill Appraisal Associates, LLC
To many, an appraisal is simply a line item on the break-sheet for a mortgage or refinance. The majority of lenders still call for a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation systems that may appear to be more cost-effective than an appraisal. Is securing a mortgage the only basis for getting an appraisal? Are there other cases when the services of a certified, independent real estate professional might come in handy? Of course there are.
Dispute your tax assessment
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Hill Appraisal Associates, LLC is your best evidence when building your case. At Hill Appraisal Associates, LLC, we're qualified to assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, most lenders ask buyers to buy this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Hill Appraisal Associates, LLC will produce a statement regarding the value of your home. The cost of the appraisal can usually be regained 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 often complicated by the strenuous decision of who gets the house, and it can be an especially daunting event for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from Hill Appraisal Associates, LLC, regardless of the situation.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We guarantee the fullest 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 handle these affairs. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding 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.
Relocate to or from Montgomery County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide remarks on the positive aspects of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking 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, because we're experts in knowing how long houses are one the market.