Reasons to order an appraisal from Colorado Realty Reports

Thousands of people in Colorado purchase, sell or refinance their home each month. A lot of these transactions have a simple line item for an appraisal. And even though there are a multiplying number of automated home valuation methods that might appear less expensive than an appraisal, the majority of lenders still need a local expert because the stakes are incredibly high. You might think that getting a mortgage is the only basis for getting an appraisal, but there are more cases when the services of a licensed, independent real estate professional could come in handy.


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Dispute your tax assessment in Rio Grande County

It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a previous assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from Colorado Realty Reports is your best evidence when building your case. At Colorado Realty Reports, we're qualified to assist you in disputing your tax assessment.

How can you get rid of PMI to lower your mortgage payment?

When the amount being loaned to the home buyer is more than 80% of the actual value of the property, nearly all lenders ask homeowners to buy an extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to do away with the PMI installments when the balance is paid down to 78% of the original value.

Colorado Realty Reports will provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce can be an especially traumatic experience for both parties, and it is often more complicated by the difficult decision of who maintains the property. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Colorado Realty Reports, regardless of the situation.

If the parties need to sell the home, they'll have a clearer picture 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 assessment.

Trustworthy estate liquidation

Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish 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 utmost degree of discretion.

Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Colorado Realty Reports can help you with relocating to or from Rio Grande County

Moving due to a job change can be a real pain. We know where you're coming from! That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive process, we suggest employees that are moving to provide input on the positive aspects of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered.

Sell your home quickly at the right price

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, which is different than the interest of real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal.

We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long houses are on the market. So, getting a professional appraisal is a reliable way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market too long, costing you time and money.