Thousands of people in Idaho purchase, sell or refinance their home each year. Many of these transactions consist of a simple line item for an appraisal. And even though there are a budding number of automated home valuation methods that may appear to be more economical than an appraisal, practically all lenders still want a local expert because the stakes are so high. But is securing a mortgage the only reason to get an appraisal? Are there additional instances when the services of a licensed, independent real estate professional could be helpful? You bet.
Let Treasure Valley Appraisal Services help you dispute your tax assessment.
If you live 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 Treasure Valley Appraisal Services is your best evidence. We’re qualified to assist you in disputing your tax assessment.
Getting rid of your PMI will lower your mortgage payment
When the amount being loaned to the home owner is more than 80% of the actual value of the home, many lenders ask homeowners to take out an additional insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the remaining balance of the loan – whether through market appreciation or principal pay down – decreases below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress requiring lenders to eliminate the PMI installments on most mortgages when the balance is paid down to 78% of the original value.
If you’d like to do away with PMI, Treasure Valley Appraisal Services can give you a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in a short amount of time because you’ll no longer be paying the PMI.
An appraisal from Treasure Valley Appraisal Services will help you settle a divorce with less stress
A divorce is a very daunting ordeal for the parties involved, and it is often even more complicated by the strenuous decision of who keeps the property. So both parties are entirely aware of the true market value of their home, it’s a good idea to order an appraisal from Treasure Valley 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 on the flip side, if a “buyout” is the chosen option, both parties will feel like they’ve gotten a fair evaluation.
Trustworthy estate liquidation
Losing a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the residential property involved. We ensure the maximum degree of discretion, as we’re bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. And since a home or other property often makes up an unequal share of the total estate value, knowing the correct value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they’ve gotten a fair deal.
Let Treasure Valley Appraisal Services help you with relocating
Employee relocation is a real pain, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, along with information about any current sales or listings in their area that they want considered during our thorough process.
Selling your home quickly at the right 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 asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren’t contingent upon the value we come up with, but rather they rest on our efforts to complete the appraisal.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we’re experts in knowing how long homes are on the market. So, obtaining a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don’t come up short or have your house on the market for an extended amount of time