Why order an appraisal from Schaffer/ Socha?To many, an appraisal is simply a line item in the long list of items for a home purchase or refinance. While there are a budding number of automated home valuation systems that might appear cheaper than an appraisal, practically all lenders still need a local expert because the stakes are incredibly high. You might think that securing a mortgage is the only reason to get an appraisal, but there are other instances when the services of a licensed, independent real estate professional might be helpful.
Appeal your tax assessment in Cuyahoga CountyIt's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from Schaffer/ Socha is your best evidence. At Schaffer/ Socha,we can assist you in challenging your tax assessment.
Let Schaffer/ Socha help you do away with PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Schaffer/ Socha will provide you with a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce is often complicated by the burdensome decision of who gets the home, and it can be a particularly heartbreaking event for both parties. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from Schaffer/ Socha, regardless of the situation.
If the parties wish to sell the home, they'll have a better 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.
Accurate and fair estate liquidationLosing 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Schaffer/ Socha can assist you in relocating to or from Cuyahoga CountyEmployee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive process, we encourage employees that are moving to provide feedback on the positive characteristics of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
Don't sell out short or keep your home on the market too long.A professional appraisal will help you make a more informed decision regarding your asking price, whether you want to sell your home on your own or with the help of a real estate agent. With much different interests than a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
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 homes stay on the market. So, 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.