Why you should hire an appraiser
Thousands of people in Oklahoma purchase, sell or refinance their home every month. Many of these transactions have a simple line item for an appraisal. And while there are a budding number of automated home valuation processes that may appear to be cheaper than an appraisal, most lenders still call in a local expert because the stakes are so high. Is securing a mortgage the only reason to acquire an appraisal? Are there other times when the services of a licensed, independent real estate professional might come in handy? You bet.
Dispute your tax assessment
If you reside in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Crowe Appraisals, we're equipped to assist you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, most lenders ask home owners to purchase this supplemental 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. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Crowe Appraisals can provide you with a statement regarding the value of your home. The expense of 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 less stress
A divorce can be a particularly daunting experience for both parties, and it is often even more complicated by the strenuous decision of who maintains the property. It's a good idea to order an appraisal from Crowe Appraisals so both parties are fully aware of the true market value of their property, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Oklahoma County through an employee relocation program
We are familiar with the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered.
Close on your home promptly — at an accurate price
A professional appraisal can help you make a more informed decision when determining 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 aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable way to decide 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, because we're experts in knowing how long houses stay on the market.