Why you should get an appraisal

To many, an appraisal just looks like another cost on the settlement sheet for a home sale or refinance. And even though there are a growing number of automated home valuation systems that may appear more practical than an appraisal, the majority of lenders still need a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a licensed, independent real estate professional might come in handy.

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Removing PMI will lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance plan that almost all lenders ask homebuyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is bad because PMI isn't required when the leftover 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 eliminate the PMI payments when the balance is paid down to 78% of the original value.

Hometowne Appraisals will give you a statement regarding the value of your home, and the expense of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is often complicated by the strenuous decision of who gets the house, and it can be a very heartbreaking experience for both parties. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from Hometowne Appraisals, regardless of the situation.

The parties will have a a good idea 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 received a fair assessment.

Settling an estate with peace of mind

The 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 residential property 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 wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the absolute value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.

Let Hometowne Appraisals assist you in relocating to or from Washington,Jefferson or Glynn County

We are familiar with the headaches involved 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 remarks on the positive features of their property, along with information regarding any recent sales or listings in their area that they want considered during our detailed process.

Let Hometowne Appraisals assist you in selling your home quickly at the right price

A professional appraisal will help you make a better educated decision when determining your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. Separate from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to perform the appraisal report and and aren't related to the sales price.

On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long properties are 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 too long, costing you time and money.