Reasons to order an appraisal

Each year, thousands of people in Florida purchase, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are very high, even though there are a developing number of automated home valuation methods that might seem cheaper than an appraisal. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a licensed, independent real estate professional might come in handy.


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Let Ralph Martin & Associates, Inc. help you challenge your tax assessment in Miami-Dade County

It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a past 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 Ralph Martin & Associates, Inc. is your best evidence. At Ralph Martin & Associates, Inc., we're capable of assisting you in challenging your tax assessment.

Removing PMI will lower your mortgage payment

Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homebuyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. This added payment is often folded into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Ralph Martin & Associates, Inc. will give you a statement regarding the value of your home. The price you paid for the appraisal can often be offset in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is often complicated by the hard decision of who gets the house, and it can be a particularly heartbreaking event for both parties. It's a good idea to order an appraisal from Ralph Martin & Associates, Inc. so both parties are completely aware of the true market value of their property, regardless of the circumstances.

If the parties wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Settling an estate with peace of mind

The loss of 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 highest degree of discretion.

Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the absolute value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Ralph Martin & Associates, Inc. can assist you in relocating to or from Miami-Dade County

Employee relocation is a more than just an inconvenience, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our thorough process.

Don't sell out short or keep your home on the market too long.

A professional appraisal can help you make a better educated decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. With much different interests than a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.

On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking 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.