Reasons to consider an appraisal from Robert L Ripp, SRA
Each year, thousands of people in Colorado buy, sell or refinance their home. Many of these transactions include a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation methods that might appear more prudent than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a licensed, independent real estate professional might be helpful.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. 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 neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, many lenders ask home buyers to purchase this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is lumped into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Robert L Ripp, SRA will give you a statement regarding the value of your home, and the expense of the home valuation can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially daunting experience for both parties, and it is often more complicated by the challenging decision of who maintains the property. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from Robert L Ripp, SRA, regardless of the circumstances.
If the parties wish to sell the home, they'll have a a good idea 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 assessment.
Ascertain a fair and accurate valuation for estate liquidation
The loss 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike wealthier individuals. 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 vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Larimer County through an employee relocation program
We understand the stress involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — for an accurate price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide what improvements will add value and what a suitable 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 are one the market.