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What is a Real Estate Appraisal? A real estate appraisal is a professional opinion of the market value of your home. The appraiser inspects your home and analyzes recent closed sales of similar properties in the area, as well as similar currently available homes which are similar in design and appeal. The appraiser then determines an estimated value for the property by analyzing the data. An appraisal is an estimate of market value for the property.
Real Estate Appraisals are performed for the following purposes:
Selling a Home:Selling a home is an emotional and often difficult process. An Appraisal can help value a home and allow it to be properly priced in the market. An Appraisal by a disinterested third party will provide you with an accurate estimate of Market Value for your Home.
Buying a Home:Buying a home in today's tight Real Estate Market is a hard task with buyers often allowing emotions to influence their decisions. An appraisal will provide a borrower with an unbiased opinion of value.
Mortgage Application:
An Appraisal allows a Mortgage Lender to ensure that the home is proper collateral for the mortgage they are issuing. We work with many large national and local lenders.
Eliminate PMI Insurance:PMI Insurance insures a lender against loss on homes purchased with a down payment of less than 20 percent. This additional cost is often hundreds of dollars a year and does not need to be paid once the equity in the home is 20% of the estimated value. An appraisal can be submitted to the mortgage company to prove that the value of the home is sufficient to remove the PMI Insurance.
Dissolution:An appraisal is often needed to help settle disputes regarding the value of the home during settlement proceedings in a divorce.
Estate:An appraisal will value a home for the estate as of the date of death allowing for settlement of the estate.
Real Estate Tax Reduction:
If your home is over assessed a Real Estate Appraisal can provide you with the information you need in order to have your Taxes reduced.
Please call us at (360) 424-0331 or E-mail us to PLACE an Order