Reasons to order an appraisal from Mannion Appraisals
To a lot of us, an appraisal just looks like one more thing on the settlement sheet for a home purchase or refinance. Even though there are a multiplying number of automated home valuation methods that may appear to be more cost-effective than an appraisal, most lenders still want a local expert because the stakes are incredibly high. Is getting a mortgage the only reason you should get an appraisal? Are there other times when the services of a certified, independent real estate professional could be helpful? You bet there are.
Challenge your tax assessment in Cook County
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. 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 home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the troublesome decision of who gets the house, and it can be an especially traumatic experience for both parties. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from Mannion Appraisals, regardless of the circumstances.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these issues. And since 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 significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Cook County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive features of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated 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. Obtaining a professional appraisal is a reliable way to decide 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, because we're experts in knowing how long homes are one the market.