Let Willamette Valley Appraisal Professionals serve your appraisal needs
Thousands of people in Oregon purchase, sell or refinance their home each year. A lot of these transactions involve a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation systems that might appear to be cheaper than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there additional times when the services of a licensed, independent real estate professional could be helpful? Of course there are.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your real estate, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Willamette Valley Appraisal Professionals is your best evidence when building your case. We're equipped to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, many lenders ask home buyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, 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 payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Willamette Valley Appraisal Professionals will give you a statement regarding the value of your home. The price you paid for the appraisal can often be recovered 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 traumatic event for the parties involved, and it is often further complicated by the burdensome decision of who keeps the house. Regardless of the situation, it's a good idea to get an appraisal from Willamette Valley Appraisal Professionals so both parties are completely aware of the true market value of their property.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The loss of 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Clackamas County for work
We are familiar with the headaches involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — for the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay 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.