Why you should order an appraisal

Thousands of people in Alabama purchase, sell or refinance their home every month. A lot of these transactions have a simple line item for an appraisal. While there are an increasing number of automated home valuation systems that might seem more prudent than an appraisal, the majority of lenders still call in a local expert because the stakes are very high. Is securing a mortgage the only reason you should get an appraisal? Are there more instances when the services of a licensed, independent real estate professional could come in handy? You bet.

Let Shamrock Appraisals, Inc. help you lower your mortgage payment

Contest your tax assessment

It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your house, so if values are less than what they used to be in your area, you can appeal 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.

PMI removal to lower your mortgage payment

When the amount being loaned to the home owneris more than 80% of the actual value of the property, almost all lenders ask buyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

Shamrock Appraisals, Inc. will give you a statement regarding the value of your home, and the expense of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.

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Settle a divorce with fewer hang-ups

A divorce can be a particularly horrible event for both parties, and it is often further complicated by the hard decision of who gets the house. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from Shamrock Appraisals, Inc., regardless of the circumstances.

If the parties wish to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Ascertain 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 requires 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, ensuring the fullest degree of discretion.

Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. 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 significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Move to or from Tuscaloosa County through an employee relocation program

We are aware of the headaches associated with an employee relocation. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed 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 area that they want considered.

Close on your home quickly — for the right price

Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.

On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, 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.

Let Shamrock Appraisals, Inc. assist you in selling your home quickly at the right price