Why You Need A Home Appraisal
An Orlando property appraisal is a process where an industry professional will come to evaluate a real-estate property to determine a current fair market value. There are different reasons someone may request a reliable appraisal. With Sunbelt Appraisal, the appraiser will use current market trends, structural conditions, location, and other factors to determine the value of the property. Appraisals are obtained for many different reasons. Below are five common reasons to obtain a dependable appraisal.
• Buying A Home
• Refinancing or Equity Loan
• Applying For Other Loans
• Litigation Valuation
• Property Taxes
Buying A Home Or Selling A Home
When buying a home, most lenders will require an appraisal of the property before the approval of lending. The appraisal will give the financial institution an idea on the value for collateral if the property has to be sold. Also during the buying process, the appraisal will help the buyer determine a fair market offer for the home. Sellers can also use an appraisal to determine a listing price for a property or to be used in conjunction with a relator to determine listing price. We, at Sunbelt Appraisal, pride ourselves on our knowledge of the market to deliver an accurate valuation of any property.
Refinancing or Equity Loan
Appraisals during refinancing and home equity loans are important tools for the homeowner. Refinancing and equity loans are determined based on the loan-to-value ratio. For example, if the value is low enough, then homeowners could avoid PMI because the lender may view the loan as less of a risk, or a better loan-to-value ratio could help obtain a lower interest rate. Appraisal values are used to determine the loan amount for equity loans. The more loan-to-value ratio, the more an individual may qualify to borrow. Therefore, it is important to get an accurate appraisal from a reputable company. Sunbelt Appraisal provides high-quality appraisals on a variety of real-estate.
>> Related Content: Date of Death Valuations
Applying For Other Loans
Certain types of loans allow a home or other property to be used as collateral when securing the loan. The lender will use the value of the home to determine the collateral value. A high-quality appraisal will help the lender determine the value in the home. Our professionals, at Sunbelt Appraisal, are dedicated to high-quality, dependable evaluations.
An appraisal can become an important document during litigation proceedings. Divorce is a situation where it is beneficial to have an appraisal. An appraisal will ensure each party receives fair value in a buyout situation or gets a fair price when the home is sold. Estate liquidations also use appraisals. Getting the appraisal will help settle estates and disputes. Our professionals, at Sunbelt Appraisal, understand the importance of a reliable valuation during these difficult situations and can help by evaluating the real-estate and providing a dependable appraisal by our experts.
In certain states, taxes are determined based on a properties fair market value. Appraisals can potentially be used to determine taxes on a property. If the property has decreased in value, then having the property appraised could potentially reduce a tax burden. Our professionals, at Sunbelt Appraisal, are here to help with any appraisal needs. A bad appraisal can make or break a deal. Why settle for a less dependable company when Sunbelt Appraisal has quality appraisers available in the area. Our appraisers continually analyze the local market and trends. Our appraisers continually seek training from accredited courses on best techniques and practices for reliable valuations of properties. Contact us to schedule an appraisal of your properties.