Reasons to order an appraisal from Real Property Metrics
To a lot of us, an appraisal is simply a line item in the long list of items for a home sale or refinance. And even though there are a multiplying number of automated home valuation methods that might appear more cost-effective than an appraisal, nearly all lenders still call in a local expert because the stakes are incredibly high. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are more cases when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment in Palm Beach County
If you reside in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Real Property Metrics, we're qualified to assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, nearly all lenders ask homebuyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Real Property Metrics can produce a statement regarding the value of your home. The expense of the home valuation can generally be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a very horrible experience for both parties, and it is often even more complicated by the difficult decision of who keeps the house. It's a good idea to order an appraisal from Real Property Metrics so both parties are completely aware of the true market value of their house, regardless of the situation.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Palm Beach County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Close on your home quickly — 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 will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long properties stay on the market.