Why you should get an appraisal
Thousands of people in Georgia purchase, sell or refinance their home each year. A lot of these transactions consist of a simple line item for an appraisal. And even though there are an increasing number of automated home valuation systems that may appear to be cheaper than an appraisal, most lenders still call for a local expert because the stakes are incredibly high. Is getting a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional might be beneficial? Of course there are.
Challenge your tax assessment
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 past assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Filson's Real Estate Appraisal Services, Inc. is your best evidence when building your case. At Filson's Real Estate Appraisal Services, Inc., we're capable of assisting you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that many lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. More often than not, this additional payment is folded into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Filson's Real Estate Appraisal Services, Inc. will provide you with a statement regarding the value of your home. The expense of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a particularly horrible event for the parties involved, and it is often further complicated by the challenging decision of who gets the home. It's a good idea to get an appraisal from Filson's Real Estate Appraisal Services, Inc. so both parties are fully aware of the true market value of their house, regardless of the situation.
The parties will have a clearer picture 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 assessment.
Fair and accurate estate liquidation
The loss of a loved one is a difficult 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. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these issues. 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 significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Fulton County through an employee relocation program
We are aware of the stress involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. 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 homes stay on the market.