6 Reasons to choose an appraisal from Robert L Ripp, SRA
Every year, thousands of people in Colorado purchase, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation methods that might appear to be less expensive than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there other times when the services of a licensed, independent real estate professional might be helpful? Of course there are.
Dispute 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're equipped to assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, nearly all lenders ask home owners to buy this added insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is lumped into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI is unnecessary 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 implemented by the United States Congress requiring lenders to dismiss 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 cost of the home valuation can often be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be a particularly horrible ordeal for both parties, and it is often even more complicated by the hard decision of who maintains the home. It's a good idea to get an appraisal from Robert L Ripp, SRA so both parties are fully aware of the true market value of their home, regardless of the situation.
If the parties want 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 received a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Larimer County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any new sales or listings in their area that they want considered during our intensive inspection.
Sell your home promptly — at the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees rest 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 items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable 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 houses stay on the market.