Let Mannion Appraisals handle your appraisal needs

Every year, thousands of people in Illinois buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. Even though there are a developing number of automated home valuation methods that might appear cheaper than an appraisal, nearly all lenders still want a local expert because the stakes are so high. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are additional instances when the services of a licensed, independent real estate professional might be beneficial.

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Dispute your tax assessment

It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your house, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Mannion Appraisals is your best evidence when building your case. We can assist you in challenging your tax assessment.

Eliminating PMI for mortgage payments

When the amount being loaned to the buyeris more than 80% of the actual value of the home, almost all lenders ask buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this added payment is bundled into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Mannion Appraisals will give you a statement regarding the value of your home. The expense of the appraisal can often be offset in little time 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 burdensome decision of who gets the house, and it can be an especially daunting occurrence for both parties. Regardless of the circumstances, it's a good idea to order an appraisal from Mannion Appraisals so both parties are completely aware of the true market value of their house.

The parties will have a clearer picture of what price to set, if they wish 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.

Ascertain 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 calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure 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 wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.

Relocate to or from Cook County for work

Employee relocation can be a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive characteristics of their property, as well as information about any new sales or listings in their neighborhood that they want considered.

Sell your home promptly — for the right price

A professional appraisal can help you make a better educated decision when determining your selling price, whether you choose 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 aren't a percentage of the sales price, but rather they depend on our efforts to finish the appraisal report.

We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, seeking 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.

Let Mannion Appraisals help you sell your home quickly at the right price