Reasons to order an appraisal from W. Eric Howard & Associates
Thousands of people in Maryland purchase, sell or refinance their home each year. Many of these transactions consist of a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation systems that might appear more practical than an appraisal. You might think that obtaining a mortgage is the only basis for getting an appraisal, but there are more cases when the services of a licensed, independent real estate professional might be beneficial.
Contest your tax assessment
If you are in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in disputing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that nearly all lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the home. More often than not, this extra payment is folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
W. Eric Howard & Associates can provide you with a statement regarding the value of your home, and the expense of the home valuation can usually be recovered 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 hard decision of who maintains the home, and it can be a particularly horrible experience for both parties. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from W. Eric Howard & Associates, regardless of the circumstances.
If the parties want to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
Losing a loved one is a painful 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these issues. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Anne Arundel County for work
We know the headaches involved with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any new sales or listings in their area that they want considered.
Sell your home promptly — at the right price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
We analyze 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 housesstay on the market. So, obtaining a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.