Why you should hire an appraiser
To many, an appraisal is simply another cost in the long list of items for a mortgage or refinance. Most lenders still need a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation systems that may appear cheaper than an appraisal. You might think that obtaining a mortgage is the only reason to get an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could come in handy.
Challenge your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Sirius Appraisal Services is your best evidence when building your case. We're equipped to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask homeowners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the home. Oftentimes, this extra payment is folded into the monthly mortgage payment and is soon forgotten. This is bad because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Sirius Appraisal Services will provide you with a statement regarding the value of your home. The expense of the home valuation can usually be offset in little 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 troublesome decision of who keeps the house, and it can be a very traumatic experience for both parties. Regardless of the situation, it's a good idea to order an appraisal from Sirius Appraisal Services so both parties are completely aware of the true market value of their home.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Queens County for work
We are familiar with the stress involved with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — at an accurate price
A professional appraisal will help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or use the assistance 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 aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining 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, because we're experts in knowing how long homes are one the market.