Let West Michigan Appraisal serve your appraisal needs
To many, an appraisal is simply a line item in the long list of items for a home purchase or refinance. Even though there are an increasing number of automated home valuation methods that may appear to be cheaper than an appraisal, most lenders still want a local expert because the stakes are very high. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are more cases when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from West Michigan Appraisal is your best evidence when building your case. At West Michigan Appraisal, we're capable of assisting you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, nearly all lenders ask buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this added payment is bundled into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, West Michigan Appraisal will give you a statement regarding the value of your home. The price you paid for the appraisal can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the burdensome decision of who gets the house, and it can be a particularly horrible event for both parties. So both parties are entirely aware of the true market value of their house, it's a good idea to order an appraisal from West Michigan Appraisal, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails 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.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding 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.
Relocate to or from Manistee County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive features of their property, as well as information about any current sales or listings in their area that they want considered.
Close on your home quickly — for the right 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 amount the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, getting 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.