Why you should get an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT
To many, an appraisal is simply a line item on the break-sheet for a mortgage or refinance. Nearly all lenders still call in a local expert because the stakes are so high, even though there are a growing number of automated home valuation processes that may appear cheaper than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there additional situations when the services of a licensed, independent real estate professional could come in handy? Of course there are.
Appeal your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT is your best evidence when building your case. We can assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask home buyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This additional payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT can provide you with a statement regarding the value of your home. The cost of the home valuation can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the strenuous decision of who maintains the property, and it can be a very traumatic ordeal for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT so both parties are entirely aware of the true market value of their house.
If the parties wish to sell the home, they'll have a better idea 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 an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for 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 maximum degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Ouachita County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive aspects of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Sell your home quickly — at an accurate price
A professional appraisal can help you make a better educated decision regarding your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. 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 items like an extra 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 properties stay on the market.