Why you should get an appraisal
Every year, thousands of people in Idaho buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. And even though there are a multiplying number of automated home valuation methods that might appear cheaper than an appraisal, the majority of lenders still need a local expert because the stakes are very high. Is getting a mortgage the only reason you should get an appraisal? Are there also times when the services of a licensed, independent real estate professional might be helpful? Absolutely.
Contest 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 Schwab Appraisal, we're qualified to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask homeowners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Very often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Schwab Appraisal can provide you with a statement regarding the value of your home. The expense of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially daunting ordeal for both parties, and it is often further complicated by the burdensome decision of who maintains the house. Regardless of the circumstances, it's a good idea to order an appraisal from Schwab Appraisal so both parties are entirely aware of the true market value of their house.
The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Kootenai County for work
We know the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics 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 quickly — for an accurate price
Whether 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 price the house sells for, apart from real estate agents. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining 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 an unnecessarily long time, because we're experts in knowing how long homes stay on the market.