Why you should get an appraisal
To a lot of people, an appraisal just looks like one more thing in the long list of items for a home purchase 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 might seem more cost-effective than an appraisal. You might think that obtaining a mortgage is the only basis for getting an appraisal, but there are other situations when the services of a licensed, independent real estate professional could be helpful.
Dispute your tax assessment in Fresno County
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from JLF Appraisals is your best evidence when building your case. We can assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, many lenders ask buyers to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
JLF Appraisals can give you a statement regarding the value of your home, and the expense of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a very horrible ordeal for the parties involved, and it is often even more complicated by the hard decision of who keeps the home. Regardless of the circumstances, it's a good idea to get an appraisal from JLF Appraisals so both parties are fully aware of the true market value of their property.
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.
Accurate and fair estate liquidation
The loss of 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 fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Fresno County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information about any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home promptly — for the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. 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 homesstay on the market. So, obtaining a professional appraisal is a trusted 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.