Why you should get an appraisal
Each year, thousands of people in Oregon purchase, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. Most lenders still want a local expert because the stakes are very high, even though there are a growing number of automated home valuation processes that may appear to be more prudent than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there other instances when the services of a certified, independent real estate professional might be helpful? You bet there are.
Appeal your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from Willamette Valley Appraisal Professionals is your best evidence when building your case. We can assist you in challenging your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask home buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Most often, this added payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Willamette Valley Appraisal Professionals will produce a statement regarding the value of your home, and the expense of the home valuation can usually be regained in a short amount of time because you'll no longer be paying the PMI.
Order your appraisal from Willamette Valley Appraisal Professionals todayOrder online
Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the strenuous decision of who maintains the property, and it can be a very daunting event for both parties. So both parties are fully aware of the true market value of their property, it's a good idea to order an appraisal from Willamette Valley Appraisal Professionals, regardless of the situation.
The parties will have a good idea of what price to set, if they want to sell the home. 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 hard 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, ensuring the fullest degree of discretion.
Most Americans don't 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, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Clackamas County for work
Employee relocation is a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — at an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, 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.