Reasons someone would need Baybrooke Appraisal

To a lot of us, an appraisal just looks like one more thing in the long list of items for a home purchase or refinance. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation methods that might appear more practical than an appraisal. You might think that getting a mortgage is the only reason you should get an appraisal, but there are more times when the services of a certified, independent real estate professional could be beneficial.

When you're planning on any transaction where the value of your home is a factor, just contact Baybrooke Appraisal. Just click here

Appeal your tax assessment 

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 Baybrooke Appraisal is your best evidence when building your case. We're capable of assisting you in disputing your tax assessment.

PMI removal to lower your mortgage payment

When the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate, many lenders ask homebuyers to buy an supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress requiring lenders to do away with the PMI payments when the balance is paid down to 78% of the original value.

If you'd like to do away with PMI, Baybrooke Appraisal can produce a statement regarding the value of your home. The expense of the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.

An appraisal from Baybrooke Appraisal will help you settle a divorce with less stress

A divorce is often complicated by the challenging decision of who keeps the home, and it can be an especially heartbreaking occurrence for both parties. Regardless of the situation, it's wise to order an appraisal from Baybrooke Appraisal so both parties are fully aware of the true market value of their home.

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 gotten a fair assessment.

Accurate and fair estate liquidation with help from Baybrooke Appraisal Settling an estate

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

Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Selling your home quickly at the right price with an appraisal from Baybrooke Appraisal

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, which is different than the interest of real estate agents. Our fees are derived from our efforts to complete the appraisal report and and aren't related to the sales price.

On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long properties stay on the market. So, obtaining a professional appraisal is a reliable 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.