6 Reasons to consider an appraisal from Shamrock Appraisals, Inc.
To a lot of people, an appraisal just looks like one more thing in the long list of items for a mortgage or refinance. And even though there are a multiplying number of automated home valuation processes that might appear to be more cost-effective than an appraisal, the majority of lenders still need a local expert because the stakes are so high. You might think that securing a mortgage is the only reason to get an appraisal, but there are other situations when the services of a licensed, independent real estate professional might come in handy.
Appeal your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your house, so if prices have declined in your area, you can appeal your assessment and save money. An appraisal from Shamrock Appraisals, Inc. is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, almost all lenders ask home owners to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed 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 eliminate PMI, Shamrock Appraisals, Inc. can provide you with a statement regarding the value of your home. The expense of the home valuation can often be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the difficult decision of who gets the house, and it can be a particularly traumatic ordeal for both parties. Regardless of the situation, it's a good idea to get an appraisal from Shamrock Appraisals, Inc. so both parties are fully aware of the true market value of their house.
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 evaluation.
Ascertain an accurate and fair 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 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, ensuring the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Tuscaloosa County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you choose to sell your home on your own or use the assistance 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 are based on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, getting 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.