Reasons to get an appraisal from Brady Appraisal ServicesEach year, thousands of people in Maryland purchase, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. Nearly all lenders still call in 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 more practical than an appraisal. But is securing a mortgage the only basis for getting an appraisal? Are there more times when the services of a certified, independent real estate professional might be beneficial? You bet.
Let Brady Appraisal Services help you appeal your tax assessment in Frederick CountyIt's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your real estate, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Brady Appraisal Services is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
Eliminating PMI will lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an added insurance plan that almost all lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Most often, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Brady Appraisal Services will provide you with a statement regarding the value of your home, and the price you paid for the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce is an especially heartbreaking event for the parties involved, and it is often further complicated by the hard decision of who maintains the home. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from Brady Appraisal Services, regardless of the circumstances.
If the parties need to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Settling an estate with peace of mindThe death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Don't sell out short or keep your home on the market too long
Whether you decide 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 selling price. An appraiser has no vested interest in what price the house sells for, which is different than the interest of real estate agents. Our fees depend on our efforts to perform the appraisal report and not a percentage of the sales price.