Reasons to get an appraisal from Greater Houston Area Appraisals
Thousands of people in Texas buy, sell or refinance their home each year. A lot of these transactions involve a simple line item for an appraisal. Practically all lenders still call in a local expert because the stakes are very high, even though there are an increasing number of automated home valuation processes that may seem cheaper than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are additional cases when the services of a licensed, independent real estate professional could be beneficial.
Challenge your tax assessment in Harris County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your real estate, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Greater Houston Area Appraisals is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, almost all lenders ask home owners to take out this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Greater Houston Area Appraisals can provide you with a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially horrible ordeal for both parties, and it is often even more complicated by the challenging decision of who maintains the home. It's a good idea to order an appraisal from Greater Houston Area Appraisals so both parties are completely aware of the true market value of their property, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a hard 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 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).
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike many wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Harris County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — at an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you want 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 related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable way to determine what improvements will add value and what an applicable 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 stay on the market.