Reasons to order an appraisal
Year after year, thousands of people in Idaho buy, sell or refinance their home. Most 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 more practical than an appraisal, most lenders still call for a local expert because the stakes are incredibly high. You might believe that obtaining a mortgage is the only basis for getting an appraisal, but there are additional situations when the services of a certified, independent real estate professional could be beneficial.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your home, so if values have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, most lenders ask home buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. This is bad because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Schwab Appraisal will produce a statement regarding the value of your home, and the price you paid for the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the burdensome decision of who keeps the home, and it can be a very daunting occurrence for both parties. It's a good idea to order an appraisal from Schwab Appraisal so both parties are fully aware of the true market value of their house, regardless of the situation.
The parties will have a good idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails 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, guaranteeing the maximum degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Kootenai County for work
We are familiar with the headaches associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home promptly — at an accurate price
A professional appraisal can help you make a better educated decision regarding 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, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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 houses are one the market.