Why you should hire an appraiserEach year, thousands of people in Vermont buy, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. And while there are a growing number of automated home valuation systems that may appear to be cheaper than an appraisal, nearly all lenders still want a local expert because the stakes are very high. But is securing a mortgage the only reason you should get an appraisal? Are there other times when the services of a licensed, independent real estate professional might be helpful? Of course there are.
Let Marco Garcia Appraisal & Review Services help you dispute your tax assessment in Washington CountyIt's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your real estate, so if prices have gone down in your area, you can appeal your assessment and save money. An appraisal from Marco Garcia Appraisal & Review Services is your best evidence when building your case. At Marco Garcia Appraisal & Review Services,we can assist you in disputing your tax assessment.
Let Marco Garcia Appraisal & Review Services help you get rid of PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress requiring lenders to eliminate the PMI payments when the balance is paid down to 78% of the original value.
Marco Garcia Appraisal & Review Services can provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be regained in just a few months because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce is often complicated by the difficult decision of who keeps the house, and it can be a very traumatic occurrence for both parties. It's a good idea to get an appraisal from Marco Garcia Appraisal & Review Services so both parties are fully aware of the true market value of their property, regardless of the circumstances.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidationThe 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 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocating to or from Washington CountyEmployee relocation is a real pain. We know where you're coming from! 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 characteristics of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our thorough process.
Don't sell out for too little or let your home stay on the market too long.Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. With much different interests than a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to perform the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long houses are on the market. So, getting a professional appraisal is a trusted 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 too long, costing you time and money.