6 Reasons to consider an appraisal from Sirius Appraisal Services
To a lot of people, an appraisal just looks like a line item in the long list of items for a home purchase or refinance. Nearly all lenders still want a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation methods that might seem more cost-effective than an appraisal. Is obtaining a mortgage the only basis for getting an appraisal? Are there other instances when the services of a certified, independent real estate professional might be helpful? Absolutely.
Appeal your tax assessment in Queens County
It's possible 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 house, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Sirius Appraisal Services, we're qualified to assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, most lenders ask homeowners to purchase this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. 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 do away with PMI, Sirius Appraisal Services will provide you with a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered 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 for divorce settlements
A divorce is often complicated by the challenging decision of who keeps the house, and it can be a very daunting ordeal for both parties. Regardless of the situation, it's a good idea to get an appraisal from Sirius Appraisal Services so both parties are fully aware of the true market value of their home.
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 evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. 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 vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Queens County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for 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 with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
We determine 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, obtaining a professional appraisal is a trusted way to decide 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.