Appraise Spokane

Residential Appraisal Services

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Reasons to get an appraisal

Every year, people buy, sell or refinance their own slice of the American Dream. Most, if not all, of these transactions include a simple line item for an appraisal. It has become an understood and accepted part of a real estate transaction in order to inform the buyer and lender with data to confirm the reasonableness of the negotiated transaction. But there are other reasons to get an appraisal.

DIVORCE SETTLEMENT

Divorce settlements are typically very emotional events. Some couples may choose to sell the family home and divide the proceeds. Others may choose, or at least explore, the possibility of one party buying out the other's ownership. A market value appraisal is beneficial in determining the property value and making informed decisions so that assets may be divided or bought out by one of the parties.AppraiseSpokane has experience in handling these situations and providing fair and unbiased valuations for your divorce appraisal.

ESTATE LIQUIDATION

The loss of a loved one is a difficult 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 Internal Revenue Service (I.R.S.) levies taxes on the sale of inherited real property. The amount of taxes owed is based on the amount gained that is beyond the beneficiary's cost basis, or in other words, the value at the time of the owner's passing.AppraiseSpokane can provide you with an cost basis/date of death appraisal for your tax and estate purposes.

HOME IMPROVEMENTS TO ADD VALUE

Before you decide to sell your home, there are several decisions to be made. First and foremost: "How much should it sell for?" But don't forget there may be other equally important questions to ask yourself such as "Would it be better to paint the entire house before we sell it?", "Should I put in that third bathroom?", "Should I complete my kitchen remodel?" Many things which we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense.AppraiseSpokane can provide you with an appraisal or market analysis to help you make informed decisions on home improvement projects.

SELLING A HOME

Whether you choose to sell your home on your own (FSBO) or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for as appraisal fees are based on the complexity of the property and requirements to complete the report and not a percentage of the sales price. So seeking a professional appraisal can often help homeowners and real estate professionals make the best decisions on investing in their homes and setting a fair sales price.AppraiseSpokane can provide you with an appraisal or market analysis to help you make informed list and sale price decisions.

PURCHASE OF A HOME

Purchasing a home is an exciting and intense process. One of the most important steps involved in purchasing a property is developing an opinion of what it's worth so that you can make an informed offer to purchase. A professional appraisal report performed by a qualified, state-licensed appraiser can provide you with an objective, third party opinion of a property's current Market Value. And for the small price of this service, you can give yourself "peace of mind" prior to making an offer to purchase that you're offering a fair price for the property.AppraiseSpokane can provide you with an appraisal or market analysis to help you make informed offer and negotiation price decisions.

REFINANCE OR GET A HOME EQUITY LOAN

If you need to consolidate bills, have a college tuition to pay, want to make home-improvements or just want to tap into the equity of your home, you'll need a new loan, which oftentimes requires an appraisal of the property.AppraiseSpokane can provide you with an appraisal, through your lender to help you and your lender structure the loan.

PMI REMOVAL

Private Mortgage Insurance or PMI is the supplemental insurance that many lenders ask home buyers to purchase when the amount being loaned is more than 80% of the value of the home. Very often, this additional payment is included into the monthly mortgage payment and is quickly forgotten but adds to a homeowners monthly expenses. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal paydown - falls below this 80% loan-to-value ratio. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.Many appraisers offer a specific service for home owners that believe they have met the 80% loan-to-value metric. For a nominal fee, the appraiser can provide you with a statement regarding the home value to provide to the lender to facilitate the process of removing PMI. In some cases, it may be necessary to file a challenge with your mortgage company with an appraiser provided data and professional communication and analysis to the lender if necessary. The costs of these services are very often recovered in just a few months of no longer having to pay PMI.AppraiseSpokane can assist you with this process.

RELOCATION

We understand the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive attributes of their property along with information about any recent sales or listings in their neighborhood that they want considered.AppraiseSpokane can provide you with and appraisal and market data to help you make informed purchase and sale decisions.