Let Russell Appraisal Services take care of your appraisal needs
To a lot of people, an appraisal is simply another cost on the break-sheet for a home purchase or refinance. Even though there are a developing number of automated home valuation methods that might appear to be more cost-effective than an appraisal, the majority of lenders still need a local expert because the stakes are so high. Is securing a mortgage the only reason to acquire an appraisal? Are there additional cases when the services of a licensed, independent real estate professional might come in handy? Of course there are.
Contest your tax assessment
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that nearly all lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Most often, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. This is bad because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Russell Appraisal Services will produce a statement regarding the value of your home. The cost of the home valuation can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce can be a very daunting event for both parties, and it is often even more complicated by the burdensome decision of who gets the house. So both parties are completely 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 wish 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.
Fair and accurate estate liquidation
The death of 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, guaranteeing the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Desoto County through an employee relocation program
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. We encourage relocating employees to provide input on the positive features of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home quickly — for 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 will help you make a better educated decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze 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 reliable 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.