Why you should hire an appraiser

To a lot of people, an appraisal is simply one more thing in the long list of items for a home sale or refinance. Most lenders still call for a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that might seem more prudent than an appraisal. But is securing a mortgage the only basis for getting an appraisal? Are there other cases when the services of a licensed, independent real estate professional might come in handy? Of course.

For real estate appraisals in Beach Park and Lake County, it's easiest when your order online from Smith Appraisal Services, Inc., just click here.

Dispute your tax assessment in Lake County

If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Smith Appraisal Services, Inc. is your best evidence when building your case. At Smith Appraisal Services, Inc., we're qualified to 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 almost all lenders ask buyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Very often, this extra payment is folded into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress passed 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.

Smith Appraisal Services, Inc. can provide you with a statement regarding the value of your home, and the expense of the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.

Settling a divorce with less stress with an appraisal from Smith Appraisal Services, Inc.

A divorce is an especially daunting experience for the parties involved, and it is often more complicated by the burdensome decision of who gets the home. It's a good idea to get an appraisal from Smith Appraisal Services, Inc. so both parties are entirely aware of the true market value of their house, regardless of the circumstances.

The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Accurate and fair estate liquidation

The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for 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 utmost degree of discretion.

Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.

Smith Appraisal Services, Inc. can assist you in relocating to or from Lake County

We are aware of the stress associated 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 input on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our detailed process.

Selling your home quickly at 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 amount the house sells for, unlike real estate agents. Our fees depend on our efforts to perform the appraisal report and and aren't related to the sales price.

We determine 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 properties stay on the market. So, seeking a professional appraisal is a trusted 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.