Reasons to hire an appraiserEvery year, thousands of people in Texas purchase, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. While there are a budding number of automated home valuation methods that might appear to be more practical than an appraisal, the majority of lenders still need a local expert because the stakes are very high. Is obtaining a mortgage the only basis for getting an appraisal? Are there more situations when the services of a licensed, independent real estate professional might be beneficial? Of course there are. ![]() Dispute your tax assessment in Collin CountyIt's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values 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 us is your best evidence. At Legacy Appraisal Services, Inc., we're equipped to assist you in appealing your tax assessment. Get rid of PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask home owners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This extra payment is often folded into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met. If you'd like to eliminate PMI, Legacy Appraisal Services, Inc. can produce a statement regarding the value of your home. The cost of the home valuation can often be offset in a short amount of time because you'll no longer be paying the PMI. Get your appraisal from Legacy Appraisal Services, Inc. Order todayGet a clear valuation on a home take make a divorce settlement less stressfulA divorce is often complicated by the strenuous decision of who keeps the property, and it can be an especially daunting occurrence for both parties. It's a good idea to order an appraisal from Legacy Appraisal Services, Inc. so both parties are entirely aware of the true market value of their home, regardless of the situation. The parties will have a clearer picture of what price to set, if they want to sell the home. 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 liquidationThe loss 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion. Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal. Relocate to or from Collin County for workWe know the headaches associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide remarks on the positive attributes of their property, along with information about any new sales or listings in their area that they want considered. Sell your home promptly — for an accurate priceA professional appraisal will help you make a better educated 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 price the house sells for, unlike real estate agents. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price. We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable 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 homes stay on the market. ![]() |