6 Reasons to order an appraisal from Appraisals by Kana, LLC
Thousands of people in Louisiana buy, sell or refinance their home each month. Most of these transactions have a simple line item for an appraisal. And while there are a developing number of automated home valuation systems that might appear more cost-effective than an appraisal, most lenders still need a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to get an appraisal? Are there other cases when the services of a licensed, independent real estate professional might be helpful? Of course there are.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your real estate, so if values have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from Appraisals by Kana, LLC is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask home buyers to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this added payment is lumped into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Appraisals by Kana, LLC will produce a statement regarding the value of your home, and the expense of the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a very daunting event for the parties involved, and it is often further complicated by the challenging decision of who keeps the house. So both parties are fully aware of the true market value of their home, it's a good idea to order an appraisal from Appraisals by Kana, LLC, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Ascertain a fair and accurate valuation for estate liquidation
The 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 residential property involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Lafayette County through an employee relocation program
We know the stress involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive features of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Sell your home promptly — for an accurate price
A 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 amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine 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 an unnecessarily long time, because we're experts in knowing how long homes stay on the market.