Why you should hire an appraiser

Every year, thousands of people in Virginia buy, sell or refinance their home. Most of these transactions include a simple line item for an appraisal. And even though there are a budding number of automated home valuation methods that may appear more prudent than an appraisal, almost all lenders still want a local expert because the stakes are very high. You might assume that getting a mortgage is the only reason to acquire an appraisal, but there are other situations when the services of a certified, independent real estate professional could be helpful.

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Appeal your tax assessment

If you reside in an area where property values have 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 appealing your tax assessment.

Getting rid of your PMI for mortgage payments

When the amount being loaned to the home buyeris more than 80% of the actual value of the home, most lenders ask homebuyers to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI payments 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 expense of the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.

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Get a clear valuation on a home for divorce settlements

A divorce is often complicated by the burdensome decision of who keeps the home, and it can be a very horrible experience for both parties. It's a good idea to order an appraisal from Theresa G. Dunleavy & Associates so both parties are completely aware of the true market value of their property, regardless of the situation.

The parties will have a good idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Determine an accurate and fair valuation for estate liquidation

The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires 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 maximum degree of discretion.

Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

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

Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive features of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.

Close on your home quickly — at the right price

A professional appraisal can help you make a better educated decision when determining your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.

We examine 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 housesare on the market. So, obtaining a professional appraisal is a reliable way to determine what improvements will add value and what an applicable 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 help you sell your home quickly at the right price