Reasons to get an appraisal

To many, an appraisal just looks like another cost on the break-sheet for a home sale or refinance. While there are a multiplying number of automated home valuation processes that may appear less expensive than an appraisal, practically all lenders still call in a local expert because the stakes are very high. Is getting a mortgage the only basis for getting an appraisal? Are there additional cases when the services of a licensed, independent real estate professional could be helpful? You bet.

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

Contest your tax assessment in Norfolk City County

If you reside in an area where the property value 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 qualified to assist you in challenging your tax assessment.

Get rid of PMI to lower your mortgage payment

When the amount being loaned to the home owneris more than 80% of the actual value of the home, many lenders ask homeowners to take out this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often bundled into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, Theresa G. Dunleavy & Associates will produce a statement regarding the value of your home. The expense of the home valuation can usually be offset in little 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 hard decision of who keeps the house, and it can be a very daunting event for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Theresa G. Dunleavy & Associates so both parties are fully aware of the true market value of their home.

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

Accurate and fair 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 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.

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these issues. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.

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

Employee relocation is a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive attributes of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.

Sell your home promptly — at the right price

A professional appraisal can help you make a better educated decision regarding your asking price, whether you want to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.

On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to decide what improvements will add value and what a suitable 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 homes stay on the market.

Let Theresa G. Dunleavy & Associates help you sell your home quickly at the right price