Let Drake Appraisal Service attend to your appraisal needs
Thousands of people in Washington purchase, sell or refinance their home each year. A lot of these transactions have a simple line item for an appraisal. Even though there are a developing number of automated home valuation systems that might seem more practical than an appraisal, the majority of lenders still call in a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a certified, independent real estate professional might be beneficial.
Appeal your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your real estate, so if prices have gone down in your area, you can challenge your assessment and save money. An appraisal from Drake Appraisal Service is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the home, many lenders ask home buyers to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Drake Appraisal Service can produce a statement regarding the value of your home, and the cost of the home valuation can often be regained in just a few months because you'll no longer be paying the PMI.
Get your appraisal from Drake Appraisal ServiceOrder today
Divorce settlement with less stress
A divorce is often complicated by the challenging decision of who maintains the home, and it can be an especially daunting occurrence for both parties. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from Drake Appraisal Service, regardless of the situation.
If the parties want to sell the home, they'll have a clearer picture 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 evaluation.
Fair and accurate estate liquidation
The death 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 residential property involved. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Snohomish County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered during our detailed inspection.
Close on your home promptly — for the right price
A professional appraisal can help you make a better educated decision regarding your asking price, whether you want to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, seeking 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.