Let Greater Houston Area Appraisals handle your appraisal needs
To a lot of people, an appraisal just looks like one more thing on the settlement sheet for a home sale or refinance. Practically all lenders still want a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation methods that may appear more cost-effective than an appraisal. Is obtaining a mortgage the only basis for getting an appraisal? Are there more times when the services of a licensed, independent real estate professional could come in handy? Of course.
Contest your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your home, so if prices have gone down in your neighborhood, you can challenge 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.
Eliminating PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, most lenders ask home owners to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Greater Houston Area Appraisals can produce a statement regarding the value of your home. The cost of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a particularly daunting experience for both parties, and it is often more complicated by the burdensome decision of who keeps the property. Regardless of the circumstances, it's a good idea to order an appraisal from Greater Houston Area Appraisals so both parties are entirely aware of the true market value of their home.
The parties will have a clearer picture of what price to set, if they wish 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
Losing a loved one is a hard 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 ensure the fullest 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 manage these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Harris County for work
We are aware of the headaches involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive aspects of their property, as well as information about any new sales or listings in their area that they want considered.
Close on your home promptly — at the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to decide 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 homes are one the market.