Reasons to hire an appraiser
Every year, thousands of people in Wisconsin buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation systems that may appear to be more prudent than an appraisal. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a licensed, independent real estate professional might come in handy.
Challenge your tax assessment in Racine County
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon 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. At A & B Tax Service, we're equipped to assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask home owners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. Since the extra 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 passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, A & B Tax Service can give you a statement regarding the value of your home. The expense of the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a very horrible experience for the parties involved, and it is often further complicated by the burdensome decision of who keeps the home. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from A & B Tax Service, regardless of the situation.
If the parties need 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
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. 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 gotten an honest deal.
Move to or from Racine County for work
We are aware of the headaches associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, as well as information about any recent sales or listings in their area that they want considered.
Sell your home quickly — at the right price
A professional appraisal can help you make a more informed decision when determining your asking 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 amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, seeking a professional appraisal is a reliable way to decide 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.