Why you should get an appraisal from Willamette Valley Appraisal Professionals
To a lot of people, an appraisal just looks like another cost in the long list of items for a mortgage or refinance. Nearly all lenders still want a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that may seem more economical than an appraisal. You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment
If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask home buyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. This extra payment is often bundled into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI isn't necessary when the remainder 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 passed by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Willamette Valley Appraisal Professionals will produce a statement regarding the value of your home, and the price you paid for the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the burdensome decision of who keeps the home, and it can be an especially horrible experience for both parties. It's a good idea to order an appraisal from Willamette Valley Appraisal Professionals so both parties are completely aware of the true market value of their house, regardless of the situation.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an uneven 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 gotten a fair deal.
Move to or from Clackamas County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough inspection.
Close on your home quickly — for the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, obtaining a professional appraisal is a trusted way to decide 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.