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Appraisals
Every year, thousands and thousands of people everywhere buy, sell, or refinance their home. Obtaining an appraisal keeps the homebuyer from spending more money than the market will bring, and protects the lender to secure the loan in case of loan defaults. Property Tax Challenges, we have all heard about this one! It's seems like everyone has a different look at what property is worth. Do not forget the tax assessor that seems to always have the highest price in mind. Disputing the tax assessment could become a problem most anywhere. So, if you have the right evidence to support and back you up, you may have a different leg to stand on in disputing the figures in front of the board. PMI Removal with the Appraisal PMI or Private Mortgage Insurance is the insurance that many lenders ask home buyers to purchase when the amount being loaned is more than 80% of the value of the home, when purchasing or refinancing a mortgage. Most of the time this is overlooked. Private Mortgage Insurance is unnecessary and not needed when the remaining balance of the loan is below 80% in most cases. Some examples noted are market appreciation or principal pay down - goes below this 80% mark. DO NOT forget the United States Congress passed a law in 1998 (Homeowners Protection Act of 1998) that requires lenders to remove the Private Mortgage Insurance when the loan-to-value ratio conditions have been met. Not only the unpaid balance controls this. Check with your lender to see the list of other qualifications that may apply to you and your loan. Before you Sell, this can really help you in the market place of your home I’m thinking about selling my home? How much should I ask for? How much can I get from the market? Should I make any repairs? Will installing a new bathroom and redoing the kitchen help get more $$$$ out of my house? Should I do anything else before selling my home? Generally, these questions can be answered. Pricing the home right will aid in a faster sale of your home, rather than an over priced listing will. Also, you will have something to stand on when people are writing offers on your home.  Also, appraisers have no interest in what your homes sells for like others may, so they are making a good sound opinion in their work. An appraiser can make sure that you have a fair market price on your home and make sure you are buying a good investment. Estate Planning or Divorce Life has changes The loss of any family member or loved one is always hard in life, and it can be difficult to deal with certain issues. Divorce can cause certain financial issues between family members which may cause them to have to liquidate personal property. An appraiser can also help with this situation at hand. This way you have a professional helping you determine a market price. Most of the time, this is the first step in fairly and accurately disposing of an estate. Where property is involved, the appraiser can help determine the true value. This way all parties know now they have received a fair share, and they walk away feeling they were taken care of. |
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Email: Chris@ChrisSchlager.com
"My Dedication Makes Your Dreams A Reality!"
For information regarding
residential homes, land or farm listings, and current real estate market
conditions in the South End, Valley Station, PRP, (Pleasure Ridge Park), Shively, Auburndale,
Fairdale, Iroquois Park, Buechel, Highview, Okolona, Fern Creek, Hikes Point,
Bullitt County, Hillview and Spencer County, Taylorsville Lake area, Mt. Washington Kentucky, (Ky) state, I can also help
you negotiate with *For Sale by Owner-FSBO's to get you the best deals on
the residential market.
*Keep in mind that with For Sale by Owners-FSBOs homes, Kentucky State law does not require seller disclosures forms to be used. They are definitely considered "Buyers Beware Properties."
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