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Reasons to order an appraisal from Accredited Appraisals

Thousands of people in Illinois purchase, sell or refinance their home every month. A lot of these transactions have a simple line item for an appraisal. Most lenders still call in a local expert because the stakes are very high, even though there are a budding number of automated home valuation processes that may appear to be more economical than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there more cases when the services of a licensed, independent real estate professional might come in handy? You bet there are.

Let Accredited Appraisals help you lower your mortgage payment

Contest your tax assessment

If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Accredited Appraisals is your best evidence when building your case. At Accredited Appraisals, we're equipped to assist you in disputing your tax assessment.

Removing PMI for mortgage payments

Private Mortgage Insurance, or PMI, is a supplemental insurance plan that nearly all lenders ask home owners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the property. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to do away with PMI, Accredited Appraisals can provide you with a statement regarding the value of your home. The cost of the home valuation can generally be offset in a short amount of time because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce can be a very traumatic ordeal for both parties, and it is often even more complicated by the hard decision of who keeps the house. It's a good idea to order an appraisal from Accredited Appraisals so both parties are fully aware of the true market value of their home, regardless of the circumstances.

If the parties need 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 evaluation.

Ascertain a fair and accurate valuation for estate liquidation

The loss 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. 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 wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.

Relocate to or from Cook County for work

Employee relocation is a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.

Close on your home promptly — at an accurate price

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.

We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a reliable way to determine 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.

Let Accredited Appraisals assist you in selling your home quickly at the right price