Why you should hire an appraiser

Each year, thousands of people in Maryland buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. Even though there are a growing number of automated home valuation systems that may appear to be cheaper than an appraisal, most lenders still want a local expert because the stakes are incredibly high. Is securing a mortgage the only reason to get an appraisal? Are there additional situations when the services of a certified, independent real estate professional might be beneficial? You bet.

Let Klein Appraisals, LLC assist you in lowering your mortgage payment

Dispute your tax assessment

It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your house, so if prices have declined in your area, you can challenge your assessment and save money. An appraisal from Klein Appraisals, LLC is your best evidence when building your case. At Klein Appraisals, LLC, we're capable of assisting you in appealing your tax assessment.

Eliminating PMI for mortgage payments

When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask homebuyers to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Klein Appraisals, LLC will give you a statement regarding the value of your home. The expense of the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.

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Settle a divorce with fewer hang-ups

A divorce is often complicated by the troublesome decision of who keeps the house, and it can be a very horrible experience for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Klein Appraisals, LLC so both parties are entirely aware of the true market value of their home.

The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

Fair and accurate estate liquidation

The death 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 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.

Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocate to or from Baltimore County through an employee relocation program

Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide feedback on the positive aspects of their property, along with information regarding any current sales or listings in their area that they want considered.

Close on your home quickly — at an accurate price

Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.

We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, getting 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.

Let Klein Appraisals, LLC assist you in selling your home quickly at the right price