Reasons to order an appraisal from A & B Tax Service
Thousands of people in Wisconsin purchase, sell or refinance their home every year. Most of these transactions involve a simple line item for an appraisal. While there are a developing number of automated home valuation systems that may appear to be more prudent than an appraisal, practically all lenders still call for a local expert because the stakes are very high. You might think that securing 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.
Dispute your tax assessment
If you are in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in disputing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask home buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
A & B Tax Service will produce a statement regarding the value of your home, and the cost of the appraisal can generally 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 challenging decision of who maintains the property, and it can be an especially daunting event for both parties. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from A & B Tax Service, regardless of the situation.
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 assessment.
Accurate and fair 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 real estate involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Racine County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide input on the positive attributes of their property, along with information about any new sales or listings in their area that they want considered.
Close on your home promptly — at the right price
A professional appraisal can help you make a better educated decision regarding your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. 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 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. Seeking a professional appraisal is a trusted 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, because we're experts in knowing how long properties are one the market.