Let TK Valuations, Inc. handle your appraisal needs
Each year, thousands of people in New York buy, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. While there are a developing number of automated home valuation systems that might seem more prudent than an appraisal, practically all lenders still call in a local expert because the stakes are incredibly high. Is securing a mortgage the only reason you should get an appraisal? Are there also cases when the services of a licensed, independent real estate professional might be beneficial? Absolutely.
Challenge your tax assessment in Erie County
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your real estate, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, many lenders ask home buyers to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is bad because PMI isn't necessary 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 invoked by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
TK Valuations, Inc. can provide you with a statement regarding the value of your home, and the cost of the home valuation can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is an especially daunting experience for the parties involved, and it is often even more complicated by the troublesome decision of who keeps the property. Regardless of the circumstances, it's a good idea to get an appraisal from TK Valuations, Inc. so both parties are completely aware of the true market value of their home.
The parties will have a better idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine a fair and accurate valuation for estate liquidation
Losing 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, 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 walk away knowing they've gotten a fair deal.
Move to or from Erie County for work
We are familiar with the headaches involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide remarks on the positive aspects of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — for an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. Unlike 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 are calculated on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, seeking a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.