Why do I need an appraisal?

Appraisals are an integral part of the home lending process.  Banks and lenders rely on appraisals to assess a property’s fair market value, helping to determine the amount they can safely lend to the borrower.  An appraisal that is inaccurate can affect the amount of equity available to you or even the terms and interest rate offered. This is true whether you are seeking a mortgage on a new purchase, or whether you are borrowing against your existing home via a HELOC or refinance.  But of course there are many other reasons to get a home appraisal, including:

Pre-listing appraisals: Appraisalsmith, LLC will provide a professional, independent, and well-researched home appraisal which is far more accurate than a realtor-based Comparative Market Analysis (CMA). A pre-listing appraisal ensures both you and your agent have an accurate description of your home’s features and a detailed analysis of market trends and comparable sales.  This protects you from undervaluing your property, but can also save you the heartache of overvaluing your asset, too. Unrealistic asking prices lead to a longer sales process and potentially a loss in actual dollars when additional house payments, property taxes, and advertising costs are factored in. Determine the fair market value of your home with an expert pre-listing appraisal from Appraisalsmith, LLC!

Estate Appraisals: Without a thorough and accurate estate appraisal, you risk undervaluing your home, potentially incurring unnecessary taxes, and even sparking family conflict. A precise valuation not only helps in fair distribution of assets but also in future tax calculations, ensuring a more secure future for your beneficiaries.  Streamline the estate process by contacting us today!

Tax Appraisals: Have your property taxes skyrocketed?  If your tax assessor values your home too high, you may appeal their property tax assessment. A thoughtful, professional home appraisal can serve to support their appeal and can potentially save you thousands of dollars in future property taxes.

Divorce Appraisals: For homeowners settling a divorce, a home appraisal ensures the value of the house is split evenly between them. If one party plans to stay in the house, lawyers can accurately assess how much that party owes the other. If both parties agree to sell the home, the appraisal can make it easier to agree on a list price.

There are countless other reasons to have your home professionally appraised (removing PMI, bankruptcy proceedings, etc).  Whatever your appraisal needs, give Appraisalsmith, LLC a call—we would love to help.