Why you should get an appraisal
To many, an appraisal just looks like another fee in the long list of items for a mortgage or refinance. Most lenders still need a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation processes that might seem more economical than an appraisal. You might think that securing a mortgage is the only reason to get an appraisal, but there are more instances when the services of a licensed, independent real estate professional might come in handy.
Challenge your tax assessment
If you are in an area where property values have 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 can assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, many lenders ask home buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Peak Appraisals, Inc. can provide you with a statement regarding the value of your home, and the price you paid for the appraisal can usually be recovered in just a few months because you'll no longer be paying the PMI.
Order an appraisal from Peak Appraisals, Inc.Order today
Settle a divorce with fewer hang-ups
A divorce is often complicated by the difficult decision of who maintains the house, and it can be an especially traumatic ordeal for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Peak Appraisals, Inc., 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 received 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 entails 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).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these matters. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Oakland County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide feedback 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 — at an accurate price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. Getting 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, because we're experts in knowing how long properties are one the market.