Why you should get an appraisal from Willamette Valley Appraisal Professionals
Every year, thousands of people in Oregon buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are so high, even though there are a developing number of automated home valuation processes that might appear more cost-effective than an appraisal. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are additional situations when the services of a certified, independent real estate professional could be helpful.
Challenge your tax assessment
If you are in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Willamette Valley Appraisal Professionals is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask home owners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the property. This added payment is often folded into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Willamette Valley Appraisal Professionals will provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a particularly traumatic ordeal for both parties, and it is often further complicated by the burdensome decision of who keeps the home. Regardless of the circumstances, it's a good idea to order an appraisal from Willamette Valley Appraisal Professionals so both parties are entirely aware of the true market value of their home.
If the parties wish 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 received a fair evaluation.
Fair and accurate estate liquidation
The loss 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 highest degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair 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. We encourage relocating employees to provide input on the positive features of their property, along with 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
A professional appraisal can help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, obtaining a professional appraisal is a trusted way to determine 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.