Reasons to hire an appraiser
To many, an appraisal is simply another fee in the long list of items for a home sale or refinance. Nearly all lenders still want a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that may appear cheaper than an appraisal. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a licensed, independent real estate professional could be helpful.
Contest your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a past assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Sirius Appraisal Services is your best evidence when building your case. We can assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that many lenders ask homeowners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, 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 installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Sirius Appraisal Services will give you a statement regarding the value of your home. The price you paid for the appraisal can usually be recovered 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 can be an especially horrible ordeal for both parties, and it is often more complicated by the troublesome decision of who maintains the property. It's a good idea to get an appraisal from Sirius Appraisal Services so both parties are entirely aware of the true market value of their property, regardless of the situation.
If the parties wish 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 received a fair assessment.
Ascertain a fair and accurate valuation for 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 real estate involved. We guarantee the utmost 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 matters, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Queens County for work
We are aware of the stress involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide remarks on the positive aspects of their property, along with information regarding any current sales or listings in their area that they want considered.
Close on your home quickly — for an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated 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 extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, obtaining 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.