6 Reasons to consider an appraisal from REID E. CHOATE & ASSOCIATES, LLC
Thousands of people in Hawaii purchase, sell or refinance their home each month. A lot of these transactions include a simple line item for an appraisal. And while there are a developing number of automated home valuation processes that might appear to be less expensive than an appraisal, the majority of lenders still call in a local expert because the stakes are incredibly high. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are more situations when the services of a licensed, independent real estate professional could be helpful.
Contest your tax assessment in Hawaii County
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a previous assessment of your home, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, many lenders ask homeowners to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this added payment is folded into the monthly mortgage payment and is soon forgotten. This is damaging because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked 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, REID E. CHOATE & ASSOCIATES, LLC will produce a statement regarding the value of your home. The cost of the home valuation can generally be offset in little time because you'll no longer be paying the PMI.
Order an appraisal from REID E. CHOATE & ASSOCIATES, LLCOrder today
Divorce settlement with fewer hang-ups
A divorce is often complicated by the strenuous decision of who keeps the house, and it can be an especially daunting ordeal for both parties. Regardless of the situation, it's a good idea to order an appraisal from REID E. CHOATE & ASSOCIATES, LLC so both parties are completely aware of the true market value of their house.
The parties will have a better idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The death of 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 real estate involved. We guarantee 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 manage these affairs, unlike wealthier individuals. 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 vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Hawaii County through an employee relocation program
We are familiar with the stress involved with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — for an accurate price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted 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, because we're experts in knowing how long houses stay on the market.
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