Reasons to order an appraisal

Thousands of people in New York buy, sell or refinance their home each month. A lot of these transactions involve a simple line item for an appraisal. While there are a multiplying number of automated home valuation processes that might appear to be less expensive than an appraisal, most lenders still call in a local expert because the stakes are very high. But is getting a mortgage the only reason to get an appraisal? Are there other situations when the services of a certified, independent real estate professional could come in handy? You bet.

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Dispute your tax assessment in Herkimer County

If you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Stubley Appraisals is your best evidence when building your case. At Stubley Appraisals,we can assist you in disputing your tax assessment.

PMI removal will lower your mortgage payment

When the amount being loaned to the home owner is more than 80% of the actual value of the real estate, nearly all lenders ask home owners to take out an added insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this extra payment is lumped into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI payments when the balance is paid down to 78% of the original value.

Stubley Appraisals will produce a statement regarding the value of your home, and the price you paid for the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce can be a very daunting experience for both parties, and it is often further complicated by the challenging decision of who gets the property. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from Stubley Appraisals, regardless of the situation.

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

Settling an estate with peace of mind

The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Market Value for the real estate 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).

Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the correct value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Relocating to or from Herkimer County?

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 process, we suggest employees that are moving to provide feedback on the positive characteristics of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered.

Selling your home quickly at the right price

A professional appraisal will help you make a more informed decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. With much different interests than a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are derived from our efforts to finish the appraisal report and not a percentage of the sales price.

On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long properties stay on the market. So, seeking a professional appraisal is a reliable way to determine 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 for an extended amount of time.