Why you should get an appraisal from Greater Houston Area AppraisalsEach year, thousands of people in Texas buy, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. Practically all lenders still call in a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation processes that may appear more prudent than an appraisal. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are more situations when the services of a licensed, independent real estate professional might be beneficial. ![]() Challenge your tax assessment in Harris CountyIf you reside in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Greater Houston Area Appraisals is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment. Get rid of PMI to lower your mortgage paymentWhen 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 purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss 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 expense of the appraisal can usually be recovered in just a few months because you'll no longer be paying the PMI. Get your appraisal from Greater Houston Area Appraisals Order onlineSettle a divorce with fewer hang-upsA divorce can be an especially traumatic experience for both parties, and it is often further complicated by the strenuous decision of who gets the house. 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 house, regardless of the circumstances. The parties will have a clearer picture of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation. Fair and accurate estate liquidationLosing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion. Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. A home or other property often makes up an unequal 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 walk away knowing they've gotten an honest deal. Move to or from Harris County for workWe understand the headaches involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered. Sell your home quickly — at the right priceA professional appraisal can help you make a better educated decision when determining your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price. 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 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. ![]() |