Why you should get an appraisal from Burkett Real Estate GroupThousands of people in Georgia buy, sell or refinance their home each year. Many of these transactions have a simple line item for an appraisal. And even though there are a growing number of automated home valuation systems that might appear more cost-effective than an appraisal, practically all lenders still want a local expert because the stakes are incredibly high. But is getting a mortgage the only reason to get an appraisal? Are there more cases when the services of a certified, independent real estate professional could be helpful? Of course there are.
Appeal your tax assessmentIt's likely you're paying too much in property taxes if you reside in an area where property values have declined. 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 area, you can challenge your assessment and save money. When building your case, an appraisal from Burkett Real Estate Group is your best evidence. At Burkett Real Estate Group, we're qualified to assist you in appealing your tax assessment.How can you get rid of PMI to lower your mortgage payment?Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask home buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. This additional payment is often lumped into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to do away with the PMI payments on most mortgages when the balance is paid down to 78% of the original value.If you'd like to do away with PMI, Burkett Real Estate Group can give you a statement regarding the value of your home. The price you paid for the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI. Settling a divorce with less stressA divorce is a particularly traumatic ordeal for the parties involved, and it is often more complicated by the troublesome decision of who maintains the house. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from Burkett Real Estate Group, regardless of the situation.The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment. Fair and accurate estate liquidationThe loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the correct value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal. Burkett Real Estate Group can help you with relocating to or from the Augusta areaEmployee relocation is a real pain, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive process, we suggest relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered.Selling your homeWhether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. With much different interests than a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't contingent upon the value opinion we render, but rather they are based on our efforts to finish the appraisal. Often our fees are significantly lower than the competition when using a summary format.
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