Reasons to order an appraisal
Each year, thousands of people in Texas buy, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. And while there are a developing number of automated home valuation methods that might appear to be cheaper than an appraisal, most lenders still call in a local expert because the stakes are so high. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are more instances when the services of a certified, independent real estate professional might be beneficial.
Dispute your tax assessment
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Laredo Appraisal Group, LLC. is your best evidence when building your case. We can assist you in challenging your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance policy that many lenders ask home buyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Laredo Appraisal Group, LLC. can give you 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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Divorce settlement with less stress
A divorce is often complicated by the hard decision of who gets the house, and it can be a particularly traumatic experience for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Laredo Appraisal Group, LLC. so both parties are fully aware of the true market value of their home.
If the parties need to sell the home, they'll have a better idea of what price to set. 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. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Webb County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive aspects 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 will help you make a better educated decision regarding your asking price, whether you want 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 are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an additional 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 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.