Every year, thousands of people in Louisiana buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are very high, even though there are a growing number of automated home valuation systems that might appear more cost-effective than an appraisal. But is obtaining a mortgage the only reason to get an appraisal? Are there more instances when the services of a licensed, independent real estate professional could be helpful? You bet.
When you're planning on any transaction where the value of your house is a factor, just contact WALLACE APPRAISAL COMPANY, L.L.C.. Just click here
Dispute your tax assessment in East Baton Rouge County
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a past assessment of your house, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from WALLACE APPRAISAL COMPANY, L.L.C. is your best evidence. We're capable of assisting you in challenging your tax assessment.
How can you eliminate PMI to lower your mortgage payment?
Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Oftentimes, this extra payment is lumped into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress that requires lenders to dismiss 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, WALLACE APPRAISAL COMPANY, L.L.C. can give you a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.
Settling a divorce with less stress
A divorce can be a very traumatic event for both parties, and it is often more complicated by the challenging decision of who maintains the property. It's a good idea to get an appraisal from WALLACE APPRAISAL COMPANY, L.L.C. so both parties are completely aware of the true market value of their property, regardless of the circumstances.
If the parties need 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 WALLACE APPRAISAL COMPANY, L.L.C.Settling an estate
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 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 maximum degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Let WALLACE APPRAISAL COMPANY, L.L.C. help you with relocating to or from East Baton Rouge County
We are familiar with 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 process, we encourage relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Don't sell out short or keep your home on the market too long.
A professional appraisal will help you make a more informed decision when determining your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Separate from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to perform the appraisal report and not a percentage of the sales price.
We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. 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 properties stay on the market.
WE LOOK FORWARD TO WORK WITH YOU CONCERNING YOU REAL ESTATE NEEDS.
