Reasons to get an appraisal from RHR AppraisalsEvery year, thousands of people in Massachusetts buy, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that may appear to be more economical than an appraisal. But is securing a mortgage the only basis for getting an appraisal? Are there other instances when the services of a certified, independent real estate professional could be helpful? Of course there are.
Let RHR Appraisals help you dispute your tax assessment in Worcester CountyIt's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from RHR Appraisals is your best evidence. At RHR Appraisals, we're qualified to assist you in challenging your tax assessment.
RHR Appraisals can help you get rid of PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask homebuyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, RHR Appraisals will give you a statement regarding the value of your home. The cost of the appraisal can generally be regained in little time because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce is an especially heartbreaking ordeal for the parties involved, and it is often even more complicated by the challenging decision of who gets the house. Regardless of the situation, it's a good idea to order an appraisal from RHR Appraisals so both parties are entirely aware of the true market value of their house.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation with RHR AppraisalsSettling an estateLosing 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 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 fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. 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 significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Let RHR Appraisals assist you in relocating to or from Worcester CountyWe are familiar with the headaches associated with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed process, we recommend employees that are moving to provide feedback on the positive features of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.
Don't sell out short or keep your home on the market too long.A professional appraisal can help you make a better educated decision when determining your selling price, whether you decide 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, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long houses stay on the market. So, obtaining a professional appraisal is a trusted way to determine 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 too long, costing you hassle and money.