Reasons to hire an appraiser

Year after year, thousands of people in Virginia purchase, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. Nearly all lenders still call in a local expert because the stakes are so high, even though there are a growing number of automated home valuation methods that might appear to be more economical than an appraisal. You might think that getting a mortgage is the only reason to acquire an appraisal, but there are other instances 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

Dispute your tax assessment in Norfolk City County

It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your house, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from Theresa G. Dunleavy & Associates is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.

Removing PMI for mortgage payments

Private Mortgage Insurance, or PMI, is an added insurance plan that many lenders ask buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls 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.

If you'd like to eliminate PMI, Theresa G. Dunleavy & Associates can provide you with a statement regarding the value of your home. The price you paid for the home valuation can often be offset in just a few months because you'll no longer be paying the PMI.

Order an appraisal from Theresa G. Dunleavy & Associates

Order today

Divorce settlement with fewer hang-ups

A divorce can be a particularly traumatic ordeal for both parties, and it is often even more complicated by the troublesome decision of who maintains the property. It's a good idea to get an appraisal from Theresa G. Dunleavy & Associates so both parties are entirely aware of the true market value of their home, regardless of the circumstances.

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

Fair and accurate estate liquidation

The death 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 maximum degree of discretion.

Most Americans don't have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of significant 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. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information about any recent sales or listings in their area that they want considered during our thorough inspection.

Close on your home promptly — for the right price

A professional appraisal will help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. 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 items like an extra 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 trusted way to decide 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 assist you in selling your home quickly at the right price