Why you should order an appraisal from Mannion Appraisals

Thousands of people in Illinois purchase, sell or refinance their home every month. Many of these transactions contain a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are so high, even though there are a budding number of automated home valuation processes that may appear to be more prudent than an appraisal. You might believe that obtaining a mortgage is the only reason to acquire an appraisal, but there are additional cases when the services of a certified, independent real estate professional could come in handy.

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Contest your tax assessment

If you reside 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 disputing your tax assessment.

PMI removal to reduce a mortgage payment

When the amount being loaned to the buyeris more than 80% of the actual value of the property, many lenders ask home owners to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional 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 - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

Mannion Appraisals can provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.

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Divorce settlement with fewer hang-ups

A divorce is an especially traumatic event for the parties involved, and it is often more complicated by the hard decision of who maintains the property. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from Mannion Appraisals, regardless of the situation.

If the parties need to sell the home, they'll have a clearer picture 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.

Determine a fair and accurate 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.

Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal share of the total estate value, knowing 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 understand the stress associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive aspects of their property, along with information about any new sales or listings in their area that they want considered.

Sell your home quickly — at an accurate price

Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.

On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable 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, because we're experts in knowing how long houses are one the market.

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