Reasons to get an appraisal from DeWitt and Brock, Inc.
To a lot of us, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. And even though there are an increasing number of automated home valuation systems that may appear more cost-effective than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. Is obtaining a mortgage the only reason you should get an appraisal? Are there more cases when the services of a licensed, independent real estate professional could be helpful? Of course.
Appeal your tax assessment in Saint Johns County
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your real estate, so if values have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from DeWitt and Brock, Inc. is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the property, many lenders ask homeowners to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this extra payment is folded into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring 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, DeWitt and Brock, Inc. will give you a statement regarding the value of your home. The price you paid for the home valuation can generally 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 less stress
A divorce is often complicated by the strenuous decision of who keeps the home, and it can be an especially horrible occurrence for both parties. So both parties are entirely aware of the true market value of their house, it's a good idea to order an appraisal from DeWitt and Brock, Inc., regardless of the situation.
The parties will have a good idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair 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, ensuring the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle 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 Saint Johns County through an employee relocation program
We are aware of the headaches involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Sell your home quickly — at an accurate price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long houses are one the market.