6 Reasons to order an appraisal from Alaska Real Estate Appraisal
Thousands of people in Alaska purchase, sell or refinance their home every year. Many of these transactions consist of a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation methods that might appear to be more practical than an appraisal. You might think that obtaining a mortgage is the only reason to get an appraisal, but there are more situations when the services of a certified, independent real estate professional might be helpful.
Contest your tax assessment
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Alaska Real Estate Appraisal is your best evidence when building your case. At Alaska Real Estate Appraisal, we're capable of assisting you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, nearly all lenders ask homeowners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Alaska Real Estate Appraisal will provide you with a statement regarding the value of your home, and the price you paid for the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is an especially daunting event for the parties involved, and it is often more complicated by the challenging decision of who gets the house. Regardless of the circumstances, it's a good idea to order an appraisal from Alaska Real Estate Appraisal so both parties are completely aware of the true market value of their house.
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 received a fair evaluation.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a hard 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, guaranteeing the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike many wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Matanuska Susitna County through an employee relocation program
We are aware of the headaches involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any current sales or listings in their area that they want considered during our intensive inspection.
Sell your home promptly — at an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted 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, because we're experts in knowing how long homes stay on the market.