Most people think that the only reason they should have their home appraised is if they’re buying or selling. While that is one reason to hire an appraiser, there are also many other reasons. In today’s blog post we’ll be sharing six of them. Continue reading to learn more, and if you are in need of residential appraisal services, contact Valuation One AMC Inc. Along with residential appraisals, we also offer commercial and compliance appraisals.
1. Selling or Buying
It’s vital to get an unbiased opinion on the price of a home if you are buying or selling. An appraiser — unlike you or your realtor — has no vested interest in the sale of the home. Often, we have an inflated sense of what our home is worth, and it’s helpful to get it appraised so that you can have a better understanding of the market value of the property.
2. Refinancing Your Home
If you are choosing to refinance your home, the bank will require you to get the property appraised. It’s important to do so in order to ensure that the value of the property justifies the size of the loan. When you refinance your home, you’re replacing your old mortgage with a new one, and lenders will require an appraisal to ensure that the new mortgage that is being set is fair for all parties involved.
3. Appealing Tax Assessments
Many states base the amount you pay in property taxes on the value of the home. If your home has decreased in value since it was last appraised, you could be paying more in taxes than you need to. And independent, unbiased appraisal can help you in the appeal process.
Valuation One AMC Inc. is licensed to appraise properties in Texas, New York, Georgia, Nevada, Washington, and Massachusetts. If you live in one of these states and are in need of appraisal services to appeal your property tax assessments, get in touch.
Divorce is a common reason to get a residential property appraisal. A certified appraiser will give you an unbiased value of your home so that you can accurately split assets in the divorce settlement.
5. Estate Settlement
A residential appraisal is usually required for the deceased final tax return. It is also helpful for understanding how to divide assets among the family and loved ones. If the house is being sold, the appraisal will also be a necessary part in the process.
When filing for bankruptcy, the court needs to know the value of your assets, which includes your home. An appraisal from an appraisal management company fulfills this necessary requirement.
Valuation One Inc. AMC Appraisal Services
Founded in 2002, our appraisal management company has the experience you need when you’re looking for a fast, accurate, and unbiased appraisal. We are licensed to appraise properties in Texas, New York, Georgia, Nevada, Washington, and Massachusetts. Along with residential appraisals, we also conduct commercial and compliance valuations. Contact us today for more information about our appraisal services.