Reasons to choose an appraisal from Mannion Appraisals
Thousands of people in Illinois buy, sell or refinance their home every month. Most of these transactions consist of a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are very high, even though there are an increasing number of automated home valuation methods that might appear more economical than an appraisal. You might assume that securing a mortgage is the only reason to get an appraisal, but there are more situations when the services of a licensed, independent real estate professional might come in handy.
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 depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if prices have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Mannion Appraisals, we're qualified to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Mannion Appraisals can give you a statement regarding the value of your home, and the price you paid for the appraisal can often be regained in just a few months because you'll no longer be paying the PMI.
Order your appraisal from Mannion Appraisals todayOrder today
Get a clear valuation on a home for divorce settlements
A divorce can be a particularly traumatic experience for both parties, and it is often further complicated by the strenuous decision of who keeps the house. It's a good idea to get an appraisal from Mannion Appraisals so both parties are entirely aware of the true market value of their house, regardless of the situation.
The parties will have a clearer picture 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.
Accurate and fair estate liquidation
Losing 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, ensuring the highest 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, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Cook County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide input on the positive aspects of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Sell your home promptly — for the right price
Whether you choose 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 regarding your asking price. Apart from 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 rest on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, getting a professional appraisal is a trusted 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 an unnecessarily long time.