Why you should hire an appraiser
Year after year, thousands of people in Colorado purchase, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that may seem more cost-effective than an appraisal. Is securing a mortgage the only reason to acquire an appraisal? Are there also instances when the services of a certified, independent real estate professional could come in handy? Absolutely.
Challenge your tax assessment
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, many lenders ask homebuyers to take out this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Robert L Ripp, SRA can provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a very traumatic event for the parties involved, and it is often even more complicated by the difficult decision of who keeps the house. 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, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they want 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 evaluation.
Fair and accurate estate liquidation
Losing 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 utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Larimer County through an employee relocation program
We know the stress involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive features of their property, along with information regarding any recent sales or listings in their area that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, seeking a professional appraisal is a reliable 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.