Reasons to order an appraisalTo many, an appraisal is simply one more thing on the break-sheet for a mortgage or refinance. Most lenders still want a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that may appear to be more practical than an appraisal. But is getting a mortgage the only reason to get an appraisal? Are there also situations when the services of a certified, independent real estate professional might be helpful? You bet there are.
Challenge your tax assessment in Santa Clara CountyIt's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a previous assessment of your real estate, so if prices have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from Walker Appraisal Services is your best evidence. At Walker Appraisal Services,we can assist you in disputing your tax assessment.
How can you do away with PMI to lower your mortgage payment?Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. More often than not, this added payment is lumped into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress that requires lenders to do away with the PMI installments on most mortgages when the balance is paid down to 78% of the original value.
If you'd like to eliminate PMI, Walker Appraisal Services will provide you with a statement regarding the value of your home. The price you paid for the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce is a particularly heartbreaking ordeal for the parties involved, and it is often even more complicated by the strenuous decision of who keeps the home. It's a good idea to order an appraisal from Walker Appraisal Services so both parties are entirely aware of the true market value of their home, regardless of the circumstances.
The parties will have a better idea 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 received a fair evaluation.
Settling an estate with peace of mindThe loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Market Value for the real estate involved. We ensure the highest 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 handle these issues, unlike wealthier individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the precise value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Walker Appraisal Services can assist you in relocating to or from Santa Clara CountyEmployee relocation can be a real pain. We know where you're coming from! That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered during our thorough process.
Don't sell out short or let your home stay on the market too long.A professional appraisal can help you make a more informed decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, which is different than the interest of real estate agents. The price we charge isn't contingent upon the value we come up with, but rather they depend on our efforts to complete the appraisal.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long properties are on the market. So, seeking a professional appraisal is a reliable way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market for an extended amount of time.