Why you should order an appraisal from Theresa G. Dunleavy & Associates

To a lot of us, an appraisal is simply a line item in the long list of items for a home sale or refinance. While there are an increasing number of automated home valuation processes that might appear to be less expensive than an appraisal, most lenders still want a local expert because the stakes are very high. You might think that securing a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a licensed, independent real estate professional could come in handy.

Let Theresa G. Dunleavy & Associates help you lower your mortgage payment

Contest your tax assessment in Norfolk City County

It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Theresa G. Dunleavy & Associates, we're capable of assisting you in challenging your tax assessment.

Get rid of PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This extra payment is often lumped into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.

Theresa G. Dunleavy & Associates will provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be recovered in a short amount of time because you'll no longer be paying the PMI.

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Divorce settlement with fewer hang-ups

A divorce is often complicated by the challenging decision of who maintains the home, and it can be a particularly daunting event for both parties. Regardless of the situation, it's a good idea to get an appraisal from Theresa G. Dunleavy & Associates so both parties are fully aware of the true market value of their property.

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 received a fair assessment.

Fair and accurate estate liquidation

Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. We guarantee 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 issues. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Relocate to or from Norfolk City County through an employee relocation program

Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive features of their property, as well as information about any current sales or listings in their neighborhood that they want considered.

Close on your home promptly — for the right price

Whether you want 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 selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.

We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Getting 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 an unnecessarily long time, because we're experts in knowing how long houses are one the market.

Let Theresa G. Dunleavy & Associates assist you in selling your home quickly at the right price