6 Reasons to choose an appraisal from Magee Appraisal Service
Each year, thousands of people in Maryland buy, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. Practically all lenders still want a local expert because the stakes are so high, even though there are a developing number of automated home valuation systems that may appear more prudent than an appraisal. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are additional instances when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment
If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Magee Appraisal Service, we're capable of assisting you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. Most often, this extra payment is bundled into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Magee Appraisal Service will provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is an especially horrible experience for the parties involved, and it is often even more complicated by the burdensome decision of who maintains the home. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Magee Appraisal Service, regardless of the circumstances.
The parties will have a better 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.
Determine an accurate and fair valuation for estate liquidation
Losing 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 real estate involved. We guarantee 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 do not have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Frederick County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, along with information regarding any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home quickly — for the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, seeking a professional appraisal is a reliable 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 an unnecessarily long time.