Let W. Eric Howard & Associates take care of your appraisal needs
Thousands of people in Maryland purchase, sell or refinance their home each month. Most of these transactions include a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation processes that might appear more practical than an appraisal. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are additional instances when the services of a certified, independent real estate professional might come in handy.
Challenge your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from W. Eric Howard & Associates is your best evidence when building your case. We can assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, 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 remove the PMI installments when the loan-to-value ratio conditions have been met.
W. Eric Howard & Associates can give you a statement regarding the value of your home, and the price you paid for the appraisal can usually be regained in a short amount of 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 an especially daunting experience for the parties involved, and it is often further complicated by the strenuous decision of who maintains the home. It's a good idea to get an appraisal from W. Eric Howard & Associates so both parties are completely aware of the true market value of their home, regardless of the circumstances.
If the parties wish to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up an unequal 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 leave knowing they've gotten a fair deal.
Move to or from Anne Arundel County through an employee relocation program
We are aware of the headaches associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — for the right price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you decide 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 amount 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.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, seeking a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.