What Is An Appraisal?
A residential appraisal is the process of developing an opinion of value for real property. This is sometimes also called the fair market value of the property. When applying for a mortgage loan, thinking of listing your home for sale with a local realtor or interested in knowing the market value for your property you will need a residential appraisal. There are many other reasons to get an appraisal including Estate Planning, Financial Planning, REO, Short Sale, Bankruptcy, Divorce, PMI or Mortgage Insurance removal. Appraisals are a very important role in the decision-making process of the bank.
Every market and every property are unique in their own way. In order for our experienced residential appraisers to determine their opinion of the market value for your specific home a lot of research for data must be completed along with an interior or exterior inspection of the property that is being appraised. A lot of factors come into play that most homeowners are not aware of. Appraisers verify that recent renovations have or have not been completed if any repairs are visibly noted and the upgrades that the property may or may not have. They confirm the interior and exterior features that the property has.
As a certified residential FHA approved appraiser with 20 years of experience I have the training, experience, and competency to complete your appraisal today.
Contest Your Tax Assessment
If you’d like to get rid of PMI, CMS Appraisals Inc will provide you with a statement regarding the value of your home. The expense of the appraisal can usually be offset in little time because you’ll no longer be paying the PMI.
Appraisal For Divorce Settlements
If the parties want to sell the home, they’ll have a a good idea of what price to set. And if a “buyout” is the chosen option, both parties will feel like they’ve received a fair assessment.
Valuation For Estate, Trust, and Probate for Tax Purposes
Most Americans don’t have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they’ve gotten an honest deal.
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