6 Reasons to order an appraisal from KEY INSIGHT
To a lot of people, an appraisal just looks like one more thing on the break-sheet for a mortgage or refinance. Nearly all lenders still call for a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that might appear more cost-effective than an appraisal. You might believe 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.
Contest your tax assessment in Oneida County
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your home, so if prices have gone down in your area, you can challenge your assessment and save money. An appraisal from KEY INSIGHT is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask buyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
KEY INSIGHT will provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially horrible ordeal for both parties, and it is often more complicated by the challenging decision of who keeps the home. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from KEY INSIGHT, regardless of the situation.
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 received a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for 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, ensuring the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike many wealthy 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 essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Oneida County through an employee relocation program
We know the stress associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — for the right price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you want 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 are based on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a reliable way to determine 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.