Reasons to choose an appraisal from Drake Appraisal Service

Every year, thousands of people in Washington purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are very high, even though there are a growing number of automated home valuation processes that may appear to be more prudent than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there also cases when the services of a certified, independent real estate professional could be beneficial? Of course there are.

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Dispute your tax assessment

If you are in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Drake Appraisal Service, we're capable of assisting you in challenging your tax assessment.

Get rid of PMI to lower your mortgage payment

When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, almost all lenders ask buyers to take out this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress implemented 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.

If you'd like to get rid of PMI, Drake Appraisal Service can produce a statement regarding the value of your home. The expense of the appraisal can generally be regained 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 particularly horrible ordeal for both parties, and it is often further complicated by the strenuous decision of who gets the property. It's a good idea to order an appraisal from Drake Appraisal Service so both parties are completely aware of the true market value of their home, regardless of the situation.

If the parties want to sell the home, they'll have a a good 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

Losing a loved one is a painful 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, ensuring the fullest degree of discretion.

Most Americans don't have dedicated estate planners or executors to manage these matters, 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 significant importance to ensuring disputing parties leave knowing they've received a fair deal.

Move to or from Snohomish County for work

Employee relocation can be a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our thorough inspection.

Sell your home promptly — at the right price

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.

We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable way to decide 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 properties stay on the market.

Let Drake Appraisal Service assist you in selling your home quickly at the right price