Reasons to order an appraisal
Thousands of people in Oklahoma buy, sell or refinance their home every month. Many of these transactions have a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation systems that may appear to be more practical than an appraisal. You might believe that getting 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 come in handy.
Challenge your tax assessment
It's probable 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 past assessment of your real estate, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from Active Appraisal Service is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, most lenders ask home buyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is soon forgotten. This is damaging 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% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Active Appraisal Service can give you a statement regarding the value of your home, and the price you paid for the home valuation 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 often complicated by the troublesome decision of who gets the house, and it can be an especially horrible ordeal for both parties. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from Active Appraisal Service, regardless of the circumstances.
The parties will have a clearer picture 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 received a fair assessment.
Determine a fair and accurate valuation for 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. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike many wealthy individuals. And seeing that 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 vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Tulsa County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — at an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long homes stay on the market.