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Reasons to hire an appraiser

Each year, thousands of people in Florida buy, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. Even though there are a developing number of automated home valuation systems that may appear more cost-effective than an appraisal, practically all lenders still want a local expert because the stakes are very high. You might think that getting a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a certified, independent real estate professional could be helpful.

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Dispute your tax assessment in Martin County

If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from Island House Appraisals Inc is your best evidence when building your case. We can assist you in challenging your tax assessment.

PMI removal to lower a mortgage payment

When the amount being loaned to the home buyeris more than 80% of the actual value of the property, many lenders ask home buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.

Island House Appraisals Inc can give you a statement regarding the value of your home, and the cost of the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.

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Divorce settlement with fewer hang-ups

A divorce can be a particularly horrible experience for both parties, and it is often further complicated by the challenging decision of who keeps the home. It's a good idea to get an appraisal from Island House Appraisals Inc so both parties are fully aware of the true market value of their house, regardless of the situation.

The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Fair and accurate estate liquidation

Losing a loved one is a difficult 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 wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.

Relocate to or from Martin County for work

We are familiar with the stress associated with an employee relocation. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any current sales or listings in their area that they want considered during our intensive inspection.

Close on your home quickly — for an accurate price

Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.

On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay 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 Island House Appraisals Inc help you sell your home quickly at the right price