Why you should get an appraisal from Klein Appraisals, LLC
Thousands of people in Maryland purchase, sell or refinance their home every month. Most of these transactions have a simple line item for an appraisal. And while there are an increasing number of automated home valuation systems that may seem more prudent than an appraisal, nearly all lenders still want a local expert because the stakes are so high. You might assume that getting a mortgage is the only reason you should get an appraisal, but there are more situations when the services of a certified, independent real estate professional could be beneficial.
Contest your tax assessment in Baltimore County
If you reside in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Klein Appraisals, LLC is your best evidence when building your case. At Klein Appraisals, LLC, we're equipped to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask homeowners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Klein Appraisals, LLC will produce a statement regarding the value of your home. The expense of the appraisal can often be regained in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce can be a very daunting ordeal for both parties, and it is often even more complicated by the challenging decision of who maintains the home. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from Klein Appraisals, LLC, regardless of the situation.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received 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, ensuring the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Baltimore County for work
We are familiar with the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide input on the positive characteristics of their property, as well as information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — 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 better educated decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a reliable way to decide 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, because we're experts in knowing how long houses stay on the market.