Reasons to get an appraisal from JTH Appraisals
To many, an appraisal is simply another fee on the settlement sheet for a home purchase or refinance. Even though there are an increasing number of automated home valuation processes that may appear to be more cost-effective than an appraisal, nearly all lenders still call in a local expert because the stakes are incredibly high. You might assume that getting a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment in Sacramento County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your real estate, so if prices have declined in your area, you can appeal your assessment and save money. An appraisal from JTH Appraisals is your best evidence when building your case. At JTH Appraisals, we're equipped to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, nearly all lenders ask home owners to buy this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't required when the remainder 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 invoked by the United States Congress requiring 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, JTH Appraisals can produce a statement regarding the value of your home. The price you paid for the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is often complicated by the burdensome decision of who keeps the home, and it can be an especially horrible experience for both parties. It's a good idea to get an appraisal from JTH Appraisals so both parties are completely aware of the true market value of their home, regardless of the circumstances.
If the parties want to sell the home, they'll have a clearer picture 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 assessment.
Determine a fair and accurate valuation for estate liquidation
Losing a loved one is a painful 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, guaranteeing the fullest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Sacramento County for work
We know the stress involved 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 input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Sell your home promptly — at an accurate price
A 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 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 are based on our efforts to finish the appraisal report and and aren't related to the sales price.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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, because we're experts in knowing how long homes are one the market.