6 Reasons you should order an appraisal from Giles Appraisal Group, Inc.
Year after year, thousands of people in Florida buy, sell or refinance their home. Many 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 systems that may seem cheaper than an appraisal. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be helpful.
Contest your tax assessment in Bay County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. 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 challenge your assessment and save money. An appraisal from Giles Appraisal Group, Inc. is your best evidence when building your case. We can assist you in challenging 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 property, almost all lenders ask buyers to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Giles Appraisal Group, Inc. will give you a statement regarding the value of your home. The price you paid for the appraisal can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is a particularly traumatic event for the parties involved, and it is often further complicated by the troublesome decision of who gets the house. Regardless of the situation, it's a good idea to order an appraisal from Giles Appraisal Group, Inc. so both parties are completely aware of the true market value of their house.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine a fair and accurate valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these issues. And since a home or other property often makes up an unequal 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 gotten a fair deal.
Relocate to or from Bay County for work
Employee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information about any new sales or listings in their area that they want considered during our thorough inspection.
Close on your home quickly — at the right 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. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to finish the appraisal report.
We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, seeking a professional appraisal is a trusted 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.