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Why would you need a Real Estate Appraisal?
 Austin real estate Month after month, hundreds of thousands of people in the United States buy, sell or refinance properties and real estate. In most cases, these transactions include an appraisal as a simple line item. The appraisal has now become an implicit and acknowledged element whenever carrying out a real estate transaction. The prevailing school of thought is to ''get in a qualified professional and make sure we're paying the right price for this property.'' This definitely isn’t the only time you might want to obtain an appraisal. Below are a few occasions when you might want to engage a certified, licensed, independent real estate professional to assess the value of your property or potential property! |
Property Tax Assessment Challenges
 Cut your property tax now! It's a well known fact that almost every different person has a different idea about what a house or property is worth. Inevitably the tax assessor will be the one that seems to appraise the property at the higher end of the scale! Because of this, disputing the valuation of the tax assessment occurs annually in many parts of the country. Often the majority of people try to dispute the assessment without the necessary ammunition. Some information taken from the internet may support their case, but this isn’t much more substantial than simply claiming: ''The assessment wasn't that high last year.'' A report from a licensed real estate appraiser will definitely help your case when challenging your property tax assessment. In order to save a few hundred dollars in tax it might not be worthwhile to pay for a full appraisal of you property, but at Accurate we can perform a limited appraisal or even give you a neighborhood analysis for a lower price. Coming from a licensed real estate appraiser, these official documents will back up your case and substantiate your claim with the appeals board. |
 Private Mortgage Insurance, otherwise known as PMI, is effectively a security insurance for mortgage lenders. In general home buyers have to purchase PMI when the amount they borrow to buy their home works out to more than 80% of the total value of the property. Usually this extra insurance payment is combined with the regular monthly mortgage payment, and then no longer shows up separately. As far as the homeowner is concerned, this is not an ideal situation as paying PMI is no longer necessary as soon as the remaining balance of the mortgage goes below the 80% threshold - either through an increase in the value of the property itself due to market appreciation or principal paydown. In 1998, the United States Congress passed a law (the Homeowners Protection Act of 1998) stating that as soon as the loan-to-property value ratio goes below the 80% level, mortgage lenders must remove the PMI payment. At Accurate Appraisals, we offer a discounted real estate appraisal service for home-owners who think that they have gone below the 80% level for their loan-to-value metric. We can provide you with a document detailing the value of your home for a much lower fee than a full appraisal, and can even assist you to go through the process with your mortgage company to have your PMI payments cancelled. And the best thing is that after just a few months of not paying PMI to the lender you have your mortgage with you will have paid for the cost of this service!
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It’s a major decision to sell your home, and during the whole process many more decisions need to be made. The most important of these is undoubtedly “How much should I ask for it?” or “What can I expect to sell it for?”. In addition, there are many relevant questions to ask like “Would it help to put in another bathroom”; “Is it worth finishing off my kitchen remodel?”; “Would it be a good idea to paint the whole house before putting it on the market?”. Almost everything we do with our houses effects their value, but it is important to remember that not everything has an equal effect. Remodeling your kitchen will usually increase the appeal of your home and help it to sell, but it won’t necessarily add enough value to justify the expense of doing it. A good qualified appraiser is able to assist you with these questions and many more. Unlike an estate agent, appraisers don’t have a vested interest in the amount your home will actually sell for. Our fee is for the services we carry out, and not based on the final sale price of your home. Getting a professional appraisal and recommendations from an independent appraiser will often be the best way to help you decide on a fair sales price, and make the most informed decisions about what it is worth while investing your money in regarding your home.
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There are situations in life that no-one wants to have to go through, but all of us will inevitably have to face. It is an understatement to say that losing a relative or loved one is a difficult time for all. Also, a divorce is always a complicated and usually traumatic experience. In addition to the emotional issues, these events are often complicated by hard decisions and disputes about the distribution of an estate. Most Americans will not have or not be able to afford dedicated estate planners or executors to help them in this regard. And in relation to appraisals, usually a home or other real estate property will constitute a large or majority share of the total estate value. Indisputably one of the most important steps in the process of disposing of an estate is to determine a fair and correct value for the estate. Whenever property is a part of the estate, a licensed real estate appraiser can give you a fair assessment of the true value. Once the correct figure has been determined, it is easier to make a just decision regarding the distribution of the estate, even if the parties involved have different points of view.
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