Why you should get an appraisal from Theresa G. Dunleavy & Associates
To many, an appraisal is simply a line item in the long list of items for a home sale or refinance. And while there are a growing number of automated home valuation methods that may appear to be more prudent than an appraisal, practically all lenders still want a local expert because the stakes are very high. Is securing a mortgage the only basis for getting an appraisal? Are there also times when the services of a licensed, independent real estate professional might come in handy? Of course.
Contest your tax assessment in Norfolk City County
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a past assessment of your home, so if prices have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, nearly all lenders ask homebuyers to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Theresa G. Dunleavy & Associates will produce 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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Divorce settlement with less stress
A divorce is often complicated by the strenuous decision of who maintains the house, and it can be an especially daunting experience for both parties. 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 home, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't 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 knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Norfolk City County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.
Sell 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 can help you make a better educated decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to finish the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 stay on the market.