Why you should hire an appraiser
Year after year, thousands of people in Illinois buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are so high, even though there are a developing number of automated home valuation systems that may seem more prudent than an appraisal. Is securing a mortgage the only basis for getting an appraisal? Are there other instances when the services of a certified, independent real estate professional might be helpful? Of course.
Dispute your tax assessment in Cook County
If you are in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Mannion Appraisals is your best evidence when building your case. At Mannion Appraisals, we're qualified to assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the property, almost all lenders ask home buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Mannion Appraisals can provide you with a statement regarding the value of your home. The price you paid for the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce can be a very traumatic ordeal for both parties, and it is often even more complicated by the difficult decision of who gets the house. It's a good idea to order an appraisal from Mannion Appraisals so both parties are fully aware of the true market value of their home, regardless of the situation.
The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. We guarantee the fullest 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 matters, unlike wealthier individuals. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Cook County for work
We are aware of the stress involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information about any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home quickly — for the right price
A professional appraisal can help you make a more informed decision regarding your selling price, whether you want to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to finish 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. And we're experts in knowing how long homesare on the market. So, obtaining a professional appraisal is a trusted way to determine 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.