Why you should get an appraisalYear after year, thousands of people in Michigan purchase, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. And while there are an increasing number of automated home valuation systems that might appear cheaper than an appraisal, almost all lenders still want a local expert because the stakes are incredibly high. 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 licensed, independent real estate professional might be helpful. 
Contest your tax assessmentIf you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Community Appraisal is your best evidence when building your case. We're equipped to assist you in challenging your tax assessment. PMI removal to lower a mortgage paymentWhen the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask homebuyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met. If you'd like to eliminate PMI, Community Appraisal can provide you with a statement regarding the value of your home. The expense of the appraisal can often be recovered in just a few months because you'll no longer be paying the PMI. Order an appraisal from Community Appraisal Order onlineDivorce settlement with less stressA divorce is often complicated by the hard decision of who keeps the home, and it can be a particularly horrible experience for both parties. It's a good idea to order an appraisal from Community Appraisal so both parties are completely aware of the true market value of their property, regardless of the situation. If the parties wish 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 evaluation. Fair and accurate estate liquidationThe 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 Fair Market Value for the real estate involved. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP). Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal. Move to or from Oakland County for workEmployee relocation can be a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection. Close on your home promptly — for an accurate priceWhether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report. On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine 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. 
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