Reasons to order an appraisal from Residential Appraisal Service, LLCEach year, thousands of people in Maryland purchase, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. While there are a multiplying number of automated home valuation processes that may appear to be more prudent than an appraisal, practically all lenders still call for a local expert because the stakes are so high. Is getting a mortgage the only basis for getting an appraisal? Are there additional instances when the services of a licensed, independent real estate professional could come in handy? Of course. 
Contest your tax assessmentIt's probable you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a previous assessment of your home, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from Residential Appraisal Service, LLC is your best evidence when building your case. We can assist you in appealing your tax assessment. Getting rid of your PMI for mortgage paymentsWhen the amount being loaned to the buyeris more than 80% of the actual value of the property, many lenders ask home buyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires 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, Residential Appraisal Service, LLC will provide you with a statement regarding the value of your home. The cost of the home valuation can often be offset in just a few months because you'll no longer be paying the PMI. Get your appraisal from Residential Appraisal Service, LLC Order todayDivorce settlement with less stressA divorce can be a very horrible experience for both parties, and it is often further complicated by the difficult decision of who keeps the property. It's a good idea to order an appraisal from Residential Appraisal Service, LLC so both parties are fully aware of the true market value of their property, 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 gotten a fair assessment. Ascertain an accurate and fair valuation for estate liquidationLosing a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires 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, ensuring the maximum degree of discretion. Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding 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. Move to or from Knox County for workEmployee relocation is a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered. Close on your home promptly — at the right priceA professional appraisal will help you make a more informed 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 amount the house sells for, apart from real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price. On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long houses stay on the market. 
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