6 Reasons to consider an appraisal from EDI Appraisals, Inc.
To many, an appraisal is simply one more thing on the break-sheet for a mortgage or refinance. And even though there are a developing number of automated home valuation systems that might appear cheaper than an appraisal, almost all lenders still need a local expert because the stakes are incredibly high. You might believe that getting a mortgage is the only reason to get an appraisal, but there are more cases when the services of a certified, independent real estate professional could come in handy.
Contest your tax assessment in Comal County
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from EDI Appraisals, Inc. is your best evidence when building your case. We're equipped to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask homeowners to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes 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 do away with the PMI payments when the loan-to-value ratio conditions have been met.
EDI Appraisals, Inc. can produce a statement regarding the value of your home, and the expense of the appraisal can generally be regained in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is an especially horrible experience for the parties involved, and it is often further complicated by the challenging decision of who keeps the house. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from EDI Appraisals, Inc., regardless of the circumstances.
If the parties need to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Determine 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 entails an appraisal to establish Fair Market Value for the real estate involved. We guarantee the utmost 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 manage these affairs. A home or other property often makes up an unequal 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 gotten a fair deal.
Relocate to or from Comal County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive attributes of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you choose 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 a percentage of the sales price, but rather they depend on our efforts to finish the appraisal report.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, seeking a professional appraisal is a trusted 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.