Reasons to get an appraisal from Robert L Ripp, SRA
Thousands of people in Colorado purchase, sell or refinance their home each year. A lot of these transactions contain a simple line item for an appraisal. And while there are a budding number of automated home valuation systems that may seem more practical than an appraisal, most lenders still call in a local expert because the stakes are incredibly high. Is getting a mortgage the only reason to get an appraisal? Are there additional times when the services of a licensed, independent real estate professional might come in handy? You bet.
Dispute your tax assessment in Larimer County
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your home, so if prices have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that most lenders ask homebuyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. This added payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Robert L Ripp, SRA will produce a statement regarding the value of your home. 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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Divorce settlement with less stress
A divorce is often complicated by the troublesome decision of who gets the house, and it can be a particularly daunting 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 entirely aware of the true market value of their house.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And 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 death of a loved one is a painful 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Larimer County for work
We are aware of the stress associated with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, along with information about any new sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for the right 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 when determining your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees depend 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. And we're experts in knowing how long housesare on the market. So, obtaining 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.