Why you should order an appraisal
To many, an appraisal is simply one more thing on the settlement sheet for a home sale or refinance. Most lenders still want a local expert because the stakes are so high, even though there are a budding number of automated home valuation processes that may appear to be more prudent than an appraisal. You might think that securing a mortgage is the only basis for getting an appraisal, but there are additional instances when the services of a certified, independent real estate professional might come in handy.
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. Ad Valorem taxes are determined by a previous assessment of your house, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from TSH Real Estate and Appraisal Services, LLC is your best evidence when building your case. At TSH Real Estate and Appraisal Services, LLC, we're qualified to assist you in disputing your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, most lenders ask homeowners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, TSH Real Estate and Appraisal Services, LLC will provide you with a statement regarding the value of your home. The price you paid for the appraisal can often be regained in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially daunting event for both parties, and it is often further complicated by the difficult decision of who keeps the house. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from TSH Real Estate and Appraisal Services, LLC, regardless of the situation.
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 received a fair evaluation.
Ascertain an accurate and fair valuation for 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 highest degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Honolulu County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an additional 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 determine 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.