6 Reasons you should order an appraisal from Theresa G. Dunleavy & Associates

Year after year, thousands of people in Virginia buy, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. While there are an increasing number of automated home valuation systems that may appear to be more practical than an appraisal, practically all lenders still need a local expert because the stakes are very high. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are other times when the services of a licensed, independent real estate professional could come in handy.

Let Theresa G. Dunleavy & Associates assist you in lowering your mortgage payment

Dispute your tax assessment in Norfolk City County

It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your home, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Theresa G. Dunleavy & Associates, we're equipped to assist you in challenging your tax assessment.

Get rid of PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home buyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the leftover balance 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 requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, Theresa G. Dunleavy & Associates will provide you with a statement regarding the value of your home. The cost of the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce can be a particularly horrible event for both parties, and it is often more complicated by the challenging decision of who gets the home. So both parties are entirely aware of the true market value of their property, it's a good idea to get an appraisal from Theresa G. Dunleavy & Associates, regardless of the circumstances.

If the parties need 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.

Ascertain a fair and accurate valuation for estate liquidation

The loss 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost 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 knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.

Move to or from Norfolk City County through an employee relocation program

We understand the stress associated with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive features of their property, as well as information about any current sales or listings in their area that they want considered.

Sell your home quickly — for the right price

A professional appraisal will help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.

On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable 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.

Let Theresa G. Dunleavy & Associates help you sell your home quickly at the right price