Why you should order an appraisal

To many, an appraisal is simply a line item on the settlement sheet for a mortgage or refinance. And while there are an increasing number of automated home valuation methods that might seem more economical than an appraisal, most lenders still call for a local expert because the stakes are so high. You might think that getting a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a licensed, independent real estate professional might be beneficial.

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

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're equipped to assist you in disputing your tax assessment.

Eliminate PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask homeowners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Most often, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Theresa G. Dunleavy & Associates will give you a statement regarding the value of your home. The cost of the appraisal can usually be recovered in a short amount of time because you'll no longer be paying the PMI.

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Settle a divorce with fewer hang-ups

A divorce is often complicated by the troublesome decision of who keeps the home, and it can be a very traumatic event for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Theresa G. Dunleavy & Associates so both parties are completely aware of the true market value of their property.

If the parties wish to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Fair and accurate estate liquidation

The loss 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.

Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.

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

We understand the headaches involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, as well as information regarding any new sales or listings in their area that they want considered.

Sell your home quickly — for an accurate price

A professional appraisal will help you make a more informed decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.

We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a trusted 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.

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