6 Reasons to choose an appraisal from Mike Noble Appraisals
Thousands of people in Alabama buy, sell or refinance their home each year. Most of these transactions contain a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are so high, even though there are a budding number of automated home valuation processes that may appear less expensive than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there also instances when the services of a licensed, independent real estate professional could come in handy? You bet.
Contest your tax assessment in Elmore County
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from Mike Noble Appraisals is your best evidence when building your case. We can assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance policy that many lenders ask buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. This additional payment is often lumped into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Mike Noble Appraisals will produce a statement regarding the value of your home, and the expense of the appraisal can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is a particularly traumatic event for the parties involved, and it is often more complicated by the hard decision of who gets the house. So both parties are fully aware of the true market value of their property, it's a good idea to order an appraisal from Mike Noble Appraisals, regardless of the situation.
The parties will have a clearer picture of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails 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 don't have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Elmore 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 aspects of their property, along with information about any new sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, seeking 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.