Reasons to get an appraisal
To many, an appraisal just looks like one more thing in the long list of items for a home purchase or refinance. And even though there are a multiplying number of automated home valuation processes that may seem cheaper than an appraisal, practically all lenders still call in a local expert because the stakes are very high. Is getting a mortgage the only basis for getting an appraisal? Are there also times when the services of a licensed, independent real estate professional might come in handy? You bet.
Challenge your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a previous assessment of your home, so if values have gone down in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Appraisals by Kana, LLC, we're capable of assisting you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Very often, 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 - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress invoked 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 eliminate PMI, Appraisals by Kana, LLC will produce a statement regarding the value of your home. The price you paid for the appraisal can often be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a very daunting experience for both parties, and it is often even more complicated by the hard decision of who maintains the home. It's a good idea to get an appraisal from Appraisals by Kana, LLC so both parties are completely aware of the true market value of their property, regardless of the situation.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a difficult 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. 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).
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Lafayette County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide remarks on the positive aspects of their property, as well as information about any new sales or listings in their area that they want considered.
Sell your home promptly — at an accurate price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Getting 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, because we're experts in knowing how long homes stay on the market.