Reasons to get an appraisalTo many, an appraisal just looks like one more thing in the long list of items for a home purchase or refinance. Practically all lenders still need a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that might seem more economical than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there additional situations when the services of a certified, independent real estate professional could be helpful? Of course there are. 
Challenge your tax assessmentIf you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment. Getting rid of your PMI for mortgage paymentsPrivate Mortgage Insurance, or PMI, is a supplemental insurance plan that nearly all lenders ask homeowners 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 damaging because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met. If you'd like to eliminate PMI, Theresa G. Dunleavy & Associates can produce a statement regarding the value of your home. The expense of the appraisal can generally be recovered in a short amount of time because you'll no longer be paying the PMI. Order your appraisal from Theresa G. Dunleavy & Associates today Order onlineDivorce settlement with less stressA divorce is often complicated by the challenging decision of who maintains the home, and it can be an especially horrible event for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Theresa G. Dunleavy & Associates so both parties are entirely aware of the true market value of their house. The parties will have a better idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment. Fair and accurate estate liquidationLosing 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion. Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal. Relocate to or from Norfolk City County for workEmployee relocation can be a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive features of their property, along with information about any recent sales or listings in their neighborhood that they want considered. Close on your home promptly — for the right priceA 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, apart from real estate agents. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price. We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, seeking 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. 
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