Why you should order an appraisal

Year after year, thousands of people in Virginia purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation systems that may seem more prudent than an appraisal. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a certified, independent real estate professional might be beneficial.


	For real estate appraisals in Norfolk and Norfolk City County, it's easiest when your order online from Theresa G. Dunleavy & Associates, just click here.

Let Theresa G. Dunleavy & Associates help you appeal your tax assessment in Norfolk City County

If you reside in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Theresa G. Dunleavy & Associates is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.

Theresa G. Dunleavy & Associates can help you eliminate PMI to lower your mortgage payment

When the amount being loaned to the homeowner is more than 80% of the actual value of the property, almost all lenders ask home owners to buy an additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress that requires lenders to remove the PMI installments on most mortgages when the balance is paid down to 78% of the original value.

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

Settling a divorce with less stress

A divorce can be a very traumatic experience for both parties, and it is often even more complicated by the hard decision of who gets the house. So both parties are completely aware of the true market value of their home, it's a good idea to order an appraisal from Theresa G. Dunleavy & Associates, regardless of the circumstances.

The parties will have a clearer picture 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 assessment.

Accurate and fair estate liquidation

The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.

Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocating to or from Norfolk City County?

We understand the stress associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive process, we recommend employees that are moving to provide remarks on the positive characteristics of their property, along with information about any current sales or listings in their neighborhood that they want considered.

Don't sell out short or let your home stay on the market too long.

Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. With much different interests than a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.

We determine 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 properties are on the market. So, obtaining a professional appraisal is a reliable way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.