Reasons to get an appraisal
Every year, thousands of people in Oregon buy, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. Nearly all lenders still want a local expert because the stakes are very high, even though there are a developing number of automated home valuation systems that may appear to be cheaper than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there more cases when the services of a certified, independent real estate professional could be helpful? Absolutely.
Dispute 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. An appraisal from Willamette Valley Appraisal Professionals is your best evidence when building your case. At Willamette Valley Appraisal Professionals, we're capable of assisting you in disputing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. Seeing that extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Willamette Valley Appraisal Professionals will 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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Get a fair valuation on a home for divorce settlements
A divorce can be an especially traumatic experience for both parties, and it is often more complicated by the troublesome decision of who maintains the property. It's a good idea to get an appraisal from Willamette Valley Appraisal Professionals so both parties are completely aware of the true market value of their property, regardless of the situation.
The parties will have a a good 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 evaluation.
Accurate and fair estate liquidation
Losing a loved one is a painful 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an unequal share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Clackamas County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. We take great care in establishing 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 about any current sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — for 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 can help you make a more informed 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 aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a reliable 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 an unnecessarily long time.