Why you should get an appraisal
Year after year, thousands of people in Colorado buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. And while there are a developing number of automated home valuation processes that may appear to be less expensive than an appraisal, nearly all lenders still call in a local expert because the stakes are incredibly high. You might assume that securing a mortgage is the only reason you should get an appraisal, but there are additional cases when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment in Rio Grande County
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your real estate, so if values have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask home owners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Most often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. This is unfortunate because 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. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Accuracy Matters Appraisals can give you a statement regarding the value of your home. The cost of the home valuation can generally be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the difficult decision of who gets the property, and it can be a particularly traumatic event for both parties. It's a good idea to get an appraisal from Accuracy Matters Appraisals 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 gotten a fair assessment.
Ascertain an accurate and fair 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 calls for an appraisal to establish Fair 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 maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthy 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 Rio Grande County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, as well as information regarding any new sales or listings in their area that they want considered.
Close on your home quickly — at an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted 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 an unnecessarily long time, because we're experts in knowing how long houses stay on the market.