Reasons to order an appraisal from Robert L Ripp, SRA
To many, an appraisal just looks like a line item in the long list of items for a mortgage or refinance. Nearly all lenders still call in a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that might seem cheaper than an appraisal. You might assume that securing a mortgage is the only reason to get an appraisal, but there are more situations when the services of a licensed, independent real estate professional might come in handy.
Challenge your tax assessment in Larimer County
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous 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 us is your best evidence. At Robert L Ripp, SRA, we're qualified to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask home owners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Very often, this added payment is folded 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 - falls below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Robert L Ripp, SRA can provide you with a statement regarding the value of your home. The expense of the appraisal can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the hard decision of who maintains the house, and it can be a particularly traumatic ordeal for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Robert L Ripp, SRA so both parties are completely aware of the true market value of their property.
The parties will have a better idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Larimer County for work
We are familiar with the headaches involved with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive aspects of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.
Sell your home promptly — at an accurate price
A professional appraisal can 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. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, seeking 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.