6 Reasons you should order an appraisal from Smith Appraisal Services

To many, an appraisal just looks like another fee on the settlement sheet for a mortgage or refinance. While there are a budding number of automated home valuation methods that may appear to be more cost-effective than an appraisal, nearly all lenders still call in a local expert because the stakes are incredibly high. You might think that getting a mortgage is the only reason to get an appraisal, but there are other instances when the services of a licensed, independent real estate professional might come in handy.

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Dispute your tax assessment

It's 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 past assessment of your house, so if values have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from Smith Appraisal Services is your best evidence when building your case. At Smith Appraisal Services, we're capable of assisting you in disputing your tax assessment.

PMI removal to reduce your mortgage payment

When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, most lenders ask homeowners to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is bad because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

Smith Appraisal Services will produce a statement regarding the value of your home, and the cost of the appraisal can usually be recovered 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 is a very traumatic experience for the parties involved, and it is often even more complicated by the challenging decision of who maintains the home. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Smith Appraisal Services, regardless of the situation.

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.

Ascertain 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 residential property involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.

Relocate to or from Dane County through an employee relocation program

We know the headaches involved with an employee relocation. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered.

Sell your home quickly — at an accurate price

Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.

We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long homes stay on the market.

Let Smith Appraisal Services assist you in selling your home quickly at the right price

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