6 Reasons to consider an appraisal from West Michigan Appraisal

To a lot of people, an appraisal is simply one more thing in the long list of items for a home sale or refinance. Most lenders still call in a local expert because the stakes are very high, even though there are a growing number of automated home valuation processes that may appear to be more cost-effective than an appraisal. You might think that obtaining a mortgage is the only reason to get an appraisal, but there are additional instances when the services of a certified, independent real estate professional could be helpful.

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Challenge your tax assessment

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 based upon a previous assessment of your real estate, so if values have gone down 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 appealing your tax assessment.

PMI removal to lower a mortgage payment

Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask homeowners to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. This is bad because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, West Michigan Appraisal can produce a statement regarding the value of your home. The expense of the appraisal can generally be recovered in a short amount of time because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce can be an especially traumatic ordeal for both parties, and it is often further complicated by the difficult decision of who keeps the home. It's a good idea to order an appraisal from West Michigan Appraisal so both parties are entirely aware of the true market value of their property, regardless of the circumstances.

If the parties need to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Determine a fair and accurate valuation for estate liquidation

The loss of a loved one is a painful 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 utmost degree of discretion.

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocate to or from Manistee County through an employee relocation program

We know the stress involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information about any new sales or listings in their area that they want considered during our thorough inspection.

Close on your home quickly — for the right price

A professional appraisal can help you make a more informed decision when determining your asking price, whether you choose 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, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.

On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, getting a professional appraisal is a reliable way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.

Let West Michigan Appraisal help you sell your home quickly at the right price