Why you should get an appraisal from Accredited Appraisals
Thousands of people in Illinois purchase, sell or refinance their home each month. Most of these transactions consist of a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation methods that might seem less expensive than an appraisal. Is getting a mortgage the only basis for getting an appraisal? Are there additional instances when the services of a licensed, independent real estate professional might be beneficial? You bet.
Challenge your tax assessment in Cook County
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if prices have declined in your area, you can appeal your assessment and save money. An appraisal from Accredited Appraisals is your best evidence when building your case. We can assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all 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. More often than not, this additional payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Accredited Appraisals will give you a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered in little time 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 a very daunting event for the parties involved, and it is often further complicated by the hard decision of who keeps the property. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Accredited Appraisals, regardless of the situation.
The parties will have a better idea 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 gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a difficult 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. 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 do not have dedicated estate planners or executors to take care of these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Cook County for work
We understand the headaches involved with an employee relocation. 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, as well as information regarding any recent sales or listings in their area that they want considered during our thorough inspection.
Close on your home promptly — for the right 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 better educated decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of 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 additional 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 applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.