Reasons to hire an appraiser
Thousands of people in Louisiana buy, sell or refinance their home every year. A lot of these transactions contain a simple line item for an appraisal. Most lenders still need a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that may appear more cost-effective than an appraisal. You might assume that getting a mortgage is the only reason to acquire an appraisal, but there are other cases when the services of a licensed, independent real estate professional might come in handy.
Dispute your tax assessment in Ouachita County
If you live in an area where the value of property has 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. At J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT, we're qualified to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance policy that most lenders ask home owners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT can give you a statement regarding the value of your home, and the expense of the appraisal can often be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the troublesome decision of who gets the house, and it can be an especially traumatic ordeal for both parties. So both parties are entirely aware of the true market value of their property, it's a good idea to get an appraisal from J. GRAHAM GAULT REAL ESTATE APPRAISER & CONSULTANT, regardless of the circumstances.
If the parties need to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a hard 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 take care of these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Ouachita County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered.
Close on your home promptly — for an accurate price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a reliable way to determine 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.