Reasons to order an appraisal from Accredited Appraisals
Thousands of people in Illinois buy, sell or refinance their home each month. A lot of these transactions involve a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation systems that might appear to be more economical than an appraisal. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are additional instances when the services of a licensed, independent real estate professional could come in handy.
Challenge 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 Accredited Appraisals is your best evidence when building your case. We can assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask homebuyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Very often, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Accredited Appraisals will provide you with a statement regarding the value of your home. The cost of the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a particularly daunting event for both parties, and it is often more complicated by the challenging decision of who keeps the home. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Accredited Appraisals, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they need 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.
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 entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Cook County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — at an accurate price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, getting 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.