Why you should hire an appraiser
Each year, thousands of people in Florida buy, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. And while there are a multiplying number of automated home valuation systems that might appear cheaper than an appraisal, nearly all lenders still call for a local expert because the stakes are very high. Is obtaining a mortgage the only reason you should get an appraisal? Are there also instances when the services of a licensed, independent real estate professional could be beneficial? You bet.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Atlantic Coast Appraisal is your best evidence when building your case. We can assist you in disputing your tax assessment.
PMI removal to reduce a 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 homebuyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this added payment is folded into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Atlantic Coast Appraisal will give you a statement regarding the value of your home. The expense of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a particularly horrible ordeal for the parties involved, and it is often even more complicated by the burdensome decision of who maintains the house. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from Atlantic Coast Appraisal, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
Losing 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. We guarantee the utmost 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 manage these affairs, unlike wealthier individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Broward County for work
We are familiar with the stress associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — at an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking 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 houses stay on the market.