Reasons to get an appraisal from Shamrock Appraisals, Inc.
To many, an appraisal just looks like a line item on the break-sheet for a home sale or refinance. Nearly all lenders still call for a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation processes that may appear to be more cost-effective than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there additional instances when the services of a licensed, independent real estate professional could come in handy? Of course.
Dispute your tax assessment
It's quite possible 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 previous assessment of your home, so if prices have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from Shamrock Appraisals, Inc. is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, nearly all lenders ask homeowners to purchase this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this added payment is bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Shamrock Appraisals, Inc. can produce a statement regarding the value of your home. The cost of the appraisal can often be regained in little 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 can be an especially horrible experience for both parties, and it is often even more complicated by the strenuous decision of who maintains the house. It's a good idea to get an appraisal from Shamrock Appraisals, Inc. so both parties are completely aware of the true market value of their property, regardless of the situation.
The parties will have a clearer picture of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Tuscaloosa County for work
We are familiar with the headaches involved with an employee relocation. 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 features of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — for the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you choose to sell your home on your own or use the assistance 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 based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to decide 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.