Reasons to order an appraisal
Thousands of people in Georgia purchase, sell or refinance their home each year. Most of these transactions involve a simple line item for an appraisal. While there are a developing number of automated home valuation processes that may appear more practical than an appraisal, practically all lenders still call for a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment
If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Filson's Real Estate Appraisal Services, Inc. is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. This added payment is often folded into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI isn't necessary 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 eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Filson's Real Estate Appraisal Services, Inc. will give you a statement regarding the value of your home. The expense of the appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a particularly traumatic experience for both parties, and it is often even more complicated by the hard decision of who gets the house. It's a good idea to order an appraisal from Filson's Real Estate Appraisal Services, Inc. so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
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 a fair and accurate 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Fulton County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information regarding any new sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for an accurate price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to 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. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a trusted 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.