Reasons to get an appraisal
To a lot of people, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. Practically all lenders still call in a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that might appear cheaper than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there other cases when the services of a licensed, independent real estate professional might be helpful? You bet there are.
Appeal your tax assessment in Broward County
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At DANIEL I KANDEL, we're capable of assisting you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, nearly all lenders ask buyers to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
DANIEL I KANDEL can give you a statement regarding the value of your home, and the expense of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be a particularly daunting experience for both parties, and it is often more complicated by the hard decision of who keeps the property. Regardless of the circumstances, it's a good idea to order an appraisal from DANIEL I KANDEL so both parties are completely aware of the true market value of their home.
If the parties wish to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires 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 fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these issues, unlike wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Broward County for work
We know the stress associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information regarding any new sales or listings in their area that they want considered during our detailed inspection.
Close on your home promptly — for the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you choose 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 depend on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value things 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.