Top 7 Reasons someone would need Real Estate Appraisal Source to do an appraisal in Illinois-Rock Island, Mercer, Henry, Whiteside, or Iowa-Scott, Muscatine, Clinton, or Cedar counties.
To many, an appraisal just looks like one more thing on the break-sheet for a home sale or refinance. And while there are a multiplying number of automated home valuation systems that may appear more cost-effective than an appraisal, nearly all lenders still need a local expert because the stakes are incredibly high. But is obtaining a mortgage the only reason to acquire an appraisal? Are there more instances when the services of a licensed, independent real estate professional could be helpful? Of course there are.
2. Challenge your tax assessment in Rock Island, Henry, Mercer, Whiteside Counties in Illinois or Scott, Clinton, Muscatine, and Cedar in IowaIt's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your real estate, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from Real Estate Appraisal Source is your best evidence. We're equipped to assist you in disputing your tax assessment.
3. How can you do away with PMI to lower your mortgage payment?When the amount being loaned to the home buyer is more than 80% of the actual value of the real estate, many lenders ask buyers to purchase an extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - goes 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 do away with PMI, Real Estate Appraisal Source can provide you with a statement regarding the value of your home. The cost of the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
4. Divorce settlement with less stressA divorce is often complicated by the difficult decision of who maintains the home, and it can be an especially heartbreaking experience for both parties. Regardless of the situation, it's a good idea to get an appraisal from Real Estate Appraisal Source so both parties are entirely aware of the true market value of their house.
If the parties need 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 gotten a fair evaluation.
5. Accurate and fair estate liquidationThe death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish 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.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the precise value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
6. Let Real Estate Appraisal Source help you with relocating to or from Rock Island, Henry, Mercer, Whiteside Counties in Illinois or Scott, Clinton, Muscatine, and Cedar in Iowa
Employee relocation can be a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our detailed process.
7. Sell your home quickly at the right price with an appraisal from Real Estate Appraisal Source
A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Separate from 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 perform the appraisal report and and aren't related to the sales price.
A few of our top cities we do business in are; Davenport, Bettendorf, Blue Grass, Le Claire, Clinton, Long Grove, Park View, Camanche, Rock Island, Moline, East Moline, Silvis, Colona, Geneseo, Atkinson, Annawan, Cambridge, Alpha, Viola, Aledo, Coal Valley, Sherrard, Port Byron, Rapids City, Fulton, Morrison, and that is just to name a few.