Reasons to order an appraisal
To many, an appraisal is simply another fee in the long list of items for a mortgage or refinance. While there are an increasing number of automated home valuation methods that may appear less expensive than an appraisal, practically all lenders still want a local expert because the stakes are very high. Is getting a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a certified, independent real estate professional could be beneficial? You bet there are.
Dispute your tax assessment in Montgomery County
If you are 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. We can assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask home buyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. Most often, this extra payment is bundled into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
H.M. Hoffman & Company will provide you with a statement regarding the value of your home, and the price you paid for the home valuation can generally be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a very traumatic experience for both parties, and it is often more complicated by the challenging decision of who maintains the property. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from H.M. Hoffman & Company, regardless of the circumstances.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And 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
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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these issues. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Montgomery County for work
We are aware of the headaches involved with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — for an accurate price
Whether you want 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 amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. 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 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.