Let Schwab Appraisal take care of your appraisal needs
Each year, thousands of people in Idaho purchase, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. And while there are a growing number of automated home valuation processes that might appear to be more cost-effective than an appraisal, almost all lenders still call in a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional might be beneficial? Of course there are.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your house, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Schwab Appraisal is your best evidence when building your case. At Schwab Appraisal, we're equipped to assist you in appealing your tax assessment.
Remove 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, many lenders ask buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Schwab Appraisal will produce a statement regarding the value of your home. The price you paid for the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the hard decision of who gets the property, and it can be a very traumatic experience for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Schwab Appraisal, 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.
Determine a fair and accurate valuation for estate liquidation
The loss of 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 Fair Market Value for the real estate involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier 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 uneven share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Kootenai County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive features of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
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 choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining 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 houses stay on the market.