Why you should get an appraisalEvery year, thousands of people in Florida buy, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. And while there are a developing number of automated home valuation processes that might appear to be more practical than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. But is securing a mortgage the only reason to get an appraisal? Are there other times when the services of a licensed, independent real estate professional could be helpful? You bet.
Let Frank D Bittle SRA help you dispute your tax assessment in Palm Beach CountyIf you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from Frank D Bittle SRA is your best evidence. At Frank D Bittle SRA, we're qualified to assist you in challenging your tax assessment.
PMI removal to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask buyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to do away with the PMI payments when the balance is paid down to 78% of the original value.
If you'd like to eliminate PMI, Frank D Bittle SRA will produce a statement regarding the value of your home. The cost of the home valuation can often be regained in just a few months because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce is often complicated by the difficult decision of who maintains the property, and it can be a very heartbreaking occurrence for both parties. Regardless of the situation, it's prudent to get an appraisal from Frank D Bittle SRA so both parties are completely aware of the true market value of their property.
If the parties want 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 assessment.
Trustworthy estate liquidationLosing a loved one is a painful 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocating to or from Palm Beach County?Moving due to a job change can be a more than just an inconvenience, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback 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 process.
Sell your home quickly at the right price with an appraisal from Frank D Bittle SRAWhether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are calculated on our efforts to perform the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long houses are on the market. So, getting 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 too long, costing you hassle and money.