Why you should order an appraisal
Each year, thousands of people in Idaho purchase, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. And while there are a budding number of automated home valuation systems that may seem less expensive than an appraisal, nearly all lenders still need a local expert because the stakes are very high. You might believe that getting a mortgage is the only reason to get an appraisal, but there are more instances when the services of a licensed, independent real estate professional could come in handy.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your real estate, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that many lenders ask buyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. This additional payment is often folded into the monthly mortgage payment and is soon forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Schwab Appraisal can provide you with a statement regarding the value of your home, and the cost of the home valuation can usually be regained in little 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 traumatic experience for both parties, and it is often even more complicated by the troublesome decision of who maintains the house. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from Schwab Appraisal, regardless of the situation.
If the parties wish 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 received a fair assessment.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a difficult 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 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).
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Kootenai County for work
We are familiar with 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 detailed inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, along with information regarding any recent sales or listings in their area that they want considered.
Close on your home quickly — at an accurate price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
We examine the difference in value items like an additional 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 reliable 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.