Reasons you should order an appraisal from Gregory James Company, Inc.
Year after year, thousands of people in Georgia buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. And while there are a growing number of automated home valuation processes that may seem less expensive than an appraisal, practically all lenders still call in a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a licensed, independent real estate professional might come in handy.
Challenge your tax assessment
If 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. At Gregory James Company, Inc., we're capable of assisting you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, most lenders ask buyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress 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, Gregory James Company, Inc. will give you a statement regarding the value of your home. The price you paid for 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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Settle a divorce with less stress
A divorce is a very horrible event for the parties involved, and it is often even more complicated by the hard decision of who maintains the home. Regardless of the situation, it's a good idea to order an appraisal from Gregory James Company, Inc. so both parties are entirely aware of the true market value of their property.
The parties will have a better idea of what price to set, if they want to sell the home. And 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 hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. A home or other property often makes up a disproportionate share of the total estate value, so knowing 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.
Relocate to or from Polk County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, along with information about any new sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — at the right price
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. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine 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 propertiesstay on the market. So, getting a professional appraisal is a trusted way to decide 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.
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