6 Reasons to order an appraisal from Advantage Appraisal Services, LLC
Each year, thousands of people in Idaho purchase, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. While there are a budding number of automated home valuation methods that may seem more practical than an appraisal, almost all lenders still call for a local expert because the stakes are so high. You might think that obtaining a mortgage is the only reason to get an appraisal, but there are more cases when the services of a licensed, independent real estate professional might come in handy.
Contest your tax assessment in Bingham County
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Advantage Appraisal Services, LLC, we're qualified to assist you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask home buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Oftentimes, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Advantage Appraisal Services, LLC will provide you with a statement regarding the value of your home. The price you paid for the home valuation can usually 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 hard decision of who maintains the house, and it can be a very traumatic occurrence for both parties. Regardless of the situation, it's a good idea to get an appraisal from Advantage Appraisal Services, LLC so both parties are completely aware of the true market value of their house.
If the parties need to sell the home, they'll have a clearer picture of what price to set. 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 hard 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, ensuring the highest degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Bingham County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, along with information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Close on your home quickly — at an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated 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 depend on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 houses stay on the market.