Reasons to choose 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 include a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation processes that may seem more cost-effective than an appraisal. Is obtaining a mortgage the only basis for getting an appraisal? Are there also times when the services of a certified, independent real estate professional might come in handy? You bet there are.
Challenge your tax assessment in Norfolk City County
If you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Theresa G. Dunleavy & Associates, we're qualified to assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, many lenders ask home buyers to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is lumped into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Theresa G. Dunleavy & Associates can produce a statement regarding the value of your home, and the price you paid for the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the difficult decision of who gets the home, and it can be an especially horrible experience for both parties. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from Theresa G. Dunleavy & Associates, regardless of the situation.
If the parties want to sell the home, they'll have a better 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 received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often entails 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, guaranteeing the highest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Norfolk City County through an employee relocation program
We understand the headaches associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information about any recent sales or listings in their area that they want considered during our detailed inspection.
Close on your home promptly — at an accurate price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a trusted way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.