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Why you should hire an appraiser

Thousands of people in Illinois purchase, sell or refinance their home each month. Most of these transactions include a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are so high, even though there are a budding number of automated home valuation systems that might appear more practical than an appraisal. You might believe that securing a mortgage is the only reason to get an appraisal, but there are more situations when the services of a certified, independent real estate professional could be helpful.

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Dispute your tax assessment

It's quite possible 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 previous assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Accredited Appraisals is your best evidence when building your case. At Accredited Appraisals, we're capable of assisting you in appealing your tax assessment.

Removing PMI for mortgage payments

Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask home owners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. Seeing that extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips 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 dismiss the PMI payments when the loan-to-value ratio conditions have been met.

Accredited Appraisals can produce a statement regarding the value of your home, and the price you paid for the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.

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Get a fair valuation on a home for divorce settlements

A divorce is a very traumatic experience for the parties involved, and it is often even more complicated by the difficult decision of who gets the house. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from Accredited Appraisals, regardless of the situation.

If the parties need 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.

Accurate and fair estate liquidation

The loss 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.

Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.

Relocate to or from Cook County through an employee relocation program

Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient 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 regarding any new sales or listings in their area that they want considered.

Close on your home quickly — at the right price

A professional appraisal can help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. 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 finish the appraisal report.

We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a trusted 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