Why order an appraisal?
Thousands of people in Illinois purchase, sell or refinance their home every year. Most of these transactions have a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that may seem more practical than an appraisal. You might think that obtaining a mortgage is the only basis for getting an appraisal, but there are more times when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment in Cook CountyIf you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal is your best evidence. I can assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI payments on most mortgages when the balance is paid down to 78% of the original value.
If you'd like to get rid of PMI, I will provide you with a statement regarding the value of your home. The expense of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
Settle a divorce with less stressA divorce is an especially traumatic experience for the parties involved, and it is often even more complicated by the hard decision of who keeps the home. It's a good idea to order an appraisal so both parties are entirely 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 gotten a fair assessment.
Fair and accurate estate liquidationThe death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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, ensuring the utmost degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal share of the total estate value, understanding the precise value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocating to or from Cook County?We are aware of the stress associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our thorough process.
Selling your home quickly at the right price with an 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 when determining 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 aren't contingent upon the value we report, but rather they rest on our efforts to finish the appraisal.
We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted 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 homes stay on the market.
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]
Thousands of people in Illinois purchase, sell or refinance their home every year. Most of these transactions have a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that may seem more practical than an appraisal. You might think that obtaining a mortgage is the only basis for getting an appraisal, but there are more times when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment in Cook CountyIf you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal is your best evidence. I can assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI payments on most mortgages when the balance is paid down to 78% of the original value.
If you'd like to get rid of PMI, I will provide you with a statement regarding the value of your home. The expense of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
Settle a divorce with less stressA divorce is an especially traumatic experience for the parties involved, and it is often even more complicated by the hard decision of who keeps the home. It's a good idea to order an appraisal so both parties are entirely 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 gotten a fair assessment.
Fair and accurate estate liquidationThe death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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, ensuring the utmost degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal share of the total estate value, understanding the precise value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocating to or from Cook County?We are aware of the stress associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our thorough process.
Selling your home quickly at the right price with an 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 when determining 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 aren't contingent upon the value we report, but rather they rest on our efforts to finish the appraisal.
We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted 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 homes stay on the market.
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]