Let Russell Appraisal Services attend to your appraisal needs
Year after year, thousands of people in Mississippi purchase, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation systems that may appear more economical than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there other situations when the services of a certified, independent real estate professional might come in handy? You bet there are.
Appeal your tax assessment in Desoto County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your home, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Russell Appraisal Services, we're qualified to assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask home owners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is no longer required when the remainder 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 dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Russell Appraisal Services can give you a statement regarding the value of your home. The price you paid for the appraisal can generally be offset 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 is often complicated by the troublesome decision of who maintains the home, and it can be a particularly daunting event for both parties. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Russell Appraisal Services, regardless of the situation.
If the parties want to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. And since 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 essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Desoto County for work
Employee relocation can be a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects 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 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 can help you make a better educated decision when determining your selling price. Unlike 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 finish the appraisal report.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, 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.