Why you should get an appraisal from Mannion Appraisals

Thousands of people in Illinois buy, sell or refinance their home every month. Many of these transactions contain a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation methods that might appear to be more cost-effective than an appraisal. Is securing a mortgage the only basis for getting an appraisal? Are there also times when the services of a licensed, independent real estate professional could be beneficial? Of course.

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Dispute your tax assessment in Cook County

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

Removing PMI for mortgage payments

Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask home buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. Very often, this extra payment is lumped into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

Mannion Appraisals will produce a statement regarding the value of your home, and the expense of the home valuation can generally be regained in a short amount of time because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce can be an especially traumatic event for both parties, and it is often further complicated by the challenging decision of who keeps the house. It's a good idea to order an appraisal from Mannion Appraisals so both parties are entirely aware of the true market value of their property, regardless of the situation.

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

Determine an accurate and fair valuation for estate liquidation

The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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, guaranteeing the highest degree of discretion.

Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. And seeing that 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 essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.

Move to or from Cook County through an employee relocation program

Employee relocation is a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information regarding any new sales or listings in their area that they want considered during our detailed inspection.

Close on your home promptly — for the right price

A professional appraisal can help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.

On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable 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, because we're experts in knowing how long properties are one the market.

Let Mannion Appraisals assist you in selling your home quickly at the right price