Let McCormick Appraisal Services, LLC attend to your appraisal needs
To a lot of us, an appraisal is simply a line item in the long list of items for a home sale or refinance. Even though there are a budding number of automated home valuation systems that might appear less expensive than an appraisal, most lenders still call for a local expert because the stakes are incredibly high. Is securing a mortgage the only basis for getting an appraisal? Are there also situations when the services of a certified, independent real estate professional might come in handy? You bet there are.
Contest your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a previous assessment of your house, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from McCormick Appraisal Services, LLC is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, many lenders ask home owners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls 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) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
McCormick Appraisal Services, LLC will give you a statement regarding the value of your home, and the expense of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the challenging decision of who keeps the house, and it can be an especially horrible experience for both parties. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from McCormick Appraisal Services, LLC, regardless of the circumstances.
The parties will have a better idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
Losing 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 residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Fayette County through an employee relocation program
We are aware of the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare 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.