Reasons to get an appraisal

Each year, thousands of people in Colorado buy, sell or refinance their home. Many of these transactions have 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 developing number of automated home valuation methods that may appear to be more practical than an appraisal. You might think that securing a mortgage is the only basis for getting an appraisal, but there are other cases when the services of a certified, independent real estate professional could be helpful.

Let Robert L Ripp, SRA assist you in lowering your mortgage payment

Appeal your tax assessment

It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your home, so if values have declined in your neighborhood, 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 challenging your tax assessment.

Eliminate PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homebuyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, Robert L Ripp, SRA can produce a statement regarding the value of your home. The price you paid for the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.

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Divorce settlement with fewer hang-ups

A divorce is a very daunting experience for the parties involved, and it is often even more complicated by the burdensome decision of who keeps the property. It's a good idea to order an appraisal from Robert L Ripp, SRA so both parties are entirely aware of the true market value of their home, regardless of the situation.

If the parties wish to sell the home, they'll have a clearer picture 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.

Determine an accurate and fair 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 calls for an appraisal to establish Fair Market Value for the real estate involved. We guarantee the utmost 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 do not have dedicated estate planners or executors to manage these matters. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Relocate to or from Larimer County through an employee relocation program

We know the stress associated with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, along with information about any new sales or listings in their neighborhood 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 selling price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.

On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine what improvements will add value and what an appropriate 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.

Let Robert L Ripp, SRA help you sell your home quickly at the right price