Reasons to get an appraisal from J.D. Schwab Appraisal
Thousands of people in Idaho buy, sell or refinance their home every year. A lot of these transactions include a simple line item for an appraisal. Even though there are an increasing number of automated home valuation systems that may appear to be cheaper than an appraisal, practically all lenders still want a local expert because the stakes are incredibly high. Is securing a mortgage the only basis for getting an appraisal? Are there additional instances when the services of a licensed, independent real estate professional might come in handy? You bet.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At J.D. Schwab Appraisal, we're equipped to assist you in disputing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. Oftentimes, this added payment is folded into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, J.D. Schwab Appraisal will produce a statement regarding the value of your home. The cost of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is a particularly traumatic experience for the parties involved, and it is often more complicated by the difficult decision of who maintains 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 J.D. Schwab Appraisal, regardless of the situation.
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 gotten a fair assessment.
Fair and accurate estate liquidation
The loss of 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 ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to manage these issues, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Idaho County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Sell your home quickly — at an accurate price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or use the assistance 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 based on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to determine what improvements will add value and what a suitable 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 properties stay on the market.