6 Reasons you should order an appraisal from John DeWitt Residential Appraiser
Each year, thousands of people in Louisiana buy, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. Nearly all lenders still call for a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation processes that may appear to be less expensive than an appraisal. Is securing a mortgage the only reason to acquire an appraisal? Are there also times when the services of a licensed, independent real estate professional could be helpful? Absolutely.
Dispute your tax assessment
If you are in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, most lenders ask buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this extra payment is folded into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring 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, John DeWitt Residential Appraiser will give you a statement regarding the value of your home. The price you paid for the appraisal can generally be regained in a short amount of 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 experience for both parties, and it is often more complicated by the strenuous decision of who gets the property. Regardless of the situation, it's a good idea to order an appraisal from John DeWitt Residential Appraiser so both parties are fully aware of the true market value of their house.
The parties will have a better idea 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 evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of 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. We ensure the utmost 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 handle these matters, unlike wealthier individuals. A home or other property often makes up a disproportionate 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 gotten an honest deal.
Move to or from Calcasieu County for work
We are aware of the stress associated with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information about any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — for the right 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 amount the house sells for. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
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 housesstay on the market. So, getting a professional appraisal is a reliable way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.