Why Get an Appraisal?

To a lot of us, an appraisal just looks like one more thing on the settlement sheet for a home purchase or refinance. Nearly all lenders still want a local expert because the stakes are very high, even though there are a budding number of automated home valuation systems that might appear to be more economical than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there also situations when the services of a certified, independent real estate professional might come in handy? Of course.

Contest your Tax Assessment

It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At IdaHome Appraisal Inc, we're capable of assisting you in disputing your tax assessment.

PMI Removal

Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the property. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, CMS Appraisals Inc will provide you with a statement regarding the value of your home. The expense of the appraisal can usually be offset in little time because you'll no longer be paying the PMI.

Appraisal for Divorce Settlements

A divorce is an especially daunting event for the parties involved, and it is often further complicated by the burdensome decision of who maintains the house. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from IdaHome Appraisal, Inc, regardless of the circumstances.

If the parties want to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Valuation for Estate, Trust, and Probate for Tax Purposes

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 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.

Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Get the Most Accurate Valuation

A professional appraisal will 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. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.

We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted 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 properties stay on the market.