Why Get An Appraisal – Joseph Mier & Associates Appraisers

Reasons to order an appraisal from Joseph Mier & Associates

To many, an appraisal is simply a line item on the settlement sheet for a mortgage or refinance. The majority of lenders still call for a local expert because the stakes are so high, even though there are a growing number of automated home valuation systems that may seem more cost-effective than an appraisal.

You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are more cases when the services of a certified, independent real estate professional might be beneficial.

Contest your tax assessment in your parish

It’s likely you’re paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Joseph Mier & Associates is your best evidence when building your case. We’re capable of assisting you in disputing your tax assessment.

Get rid of PMWe to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask home owners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Oftentimes, this extra payment is lumped into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMWe isn’t required when the remaining balance 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 invoked by the United States Congress requiring lenders to dismiss the PMWe payments when the loan-to-value ratio conditions have been met.

Joseph Mier & Associates can produce a statement regarding the value of your home, and the price you paid for the appraisal can generally be offset in little time because you’ll no longer be paying the PMI.

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Divorce settlement with less stress

A divorce is often complicated by the troublesome decision of who gets the property, and it can be an especially daunting event for both parties. So both parties are fully aware of the true market value of their house, it’s a good idea to order an appraisal from Joseph Mier & Associates, regardless of the circumstances.

The parties will have a better idea of what price to set, if they wish to sell the home. 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 liquidation

The death of a loved one is a difficult 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 fullest degree of discretion.

Unlike wealthy individuals, most Americans don’t have dedicated estate planners or executors to manage these affairs. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they’ve gotten an honest deal.

Move to or from your parish for work

We understand the headaches involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.

Sell your home quickly — at an accurate price

Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.

On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted 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, because we’re experts in knowing how long houses are one the market.