Why you should get an appraisal from Active Appraisal Service
Thousands of people in Oklahoma buy, sell or refinance their home each year. Many of these transactions consist of a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might appear more practical than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there also times when the services of a certified, independent real estate professional could be beneficial? You bet there are.
Challenge your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Active Appraisal Service can provide you with a statement regarding the value of your home. The expense of the appraisal can generally be recovered 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 horrible ordeal for both parties, and it is often further complicated by the hard decision of who gets the property. Regardless of the circumstances, it's a good idea to get an appraisal from Active Appraisal Service so both parties are completely aware of the true market value of their property.
The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine an accurate and fair 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. And since a home or other property often makes up an unequal 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 an honest deal.
Move to or from Tulsa County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive attributes of their property, as well as information about any current sales or listings in their area that they want considered.
Sell your home quickly — at an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare 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.