Let Drake Appraisal Service handle your appraisal needs
To many, an appraisal is simply one more thing on the break-sheet for a home purchase or refinance. And while there are a developing number of automated home valuation systems that might appear more prudent than an appraisal, nearly all lenders still want a local expert because the stakes are so high. You might believe that obtaining a mortgage is the only reason to acquire an appraisal, but there are other times when the services of a licensed, independent real estate professional might be helpful.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if prices have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from Drake Appraisal Service is your best evidence when building your case. We can assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask home owners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't necessary 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 invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Drake Appraisal Service will give you a statement regarding the value of your home. The expense of the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a very traumatic ordeal for both parties, and it is often further complicated by the burdensome decision of who gets the property. Regardless of the situation, it's a good idea to order an appraisal from Drake Appraisal Service so both parties are fully 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 gotten a fair assessment.
Fair and accurate estate liquidation
The loss 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 Fair Market Value for the real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Snohomish County for work
We understand the headaches associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive attributes of their property, along with information about any new sales or listings in their area that they want considered.
Sell your home quickly — at 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. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
We determine 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 homesare on the market. So, getting a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.