There are lots of reasons the public calls on MNP Residential Appraisals LLCThousands of people in Louisiana buy, sell or refinance their home every year. Most of these transactions contain a simple line item for an appraisal. And even though there are a growing number of automated home valuation methods that might appear more economical than an appraisal, the majority of lenders still call in a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only reason you should get an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could be helpful.
Dispute your tax assessment in East Baton Rouge CountyIf you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from MNP Residential Appraisals LLC is your best evidence. At MNP Residential Appraisals LLC, we're equipped to assist you in disputing your tax assessment.
PMI removal will lower your mortgage paymentWhen the amount being loaned to the home buyer is more than 80% of the actual value of the home, most lenders ask homeowners to buy an extra insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is lumped into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress requiring lenders to dismiss the PMI payments on most mortgages when the balance is paid down to 78% of the original value.
If you'd like to do away with PMI, MNP Residential Appraisals LLC can provide you with a statement regarding the value of your home. The cost of the home valuation can usually be regained in just a few months because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce can be a very traumatic experience for both parties, and it is often more complicated by the difficult decision of who gets the house. It's a good idea to get an appraisal from MNP Residential Appraisals LLC so both parties are completely aware of the true market value of their property, regardless of the situation.
If the parties wish to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Settling an estate with peace of mindThe death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for 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 maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
MNP Residential Appraisals LLC can assist you in relocating to or from East Baton Rouge CountyMoving due to a job change is a stressful event, and we understand. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive process, we suggest relocating employees to provide remarks on the positive aspects of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Don't sell out short or keep your home on the market too long.Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. The price we charge isn't contingent upon the value we report, but rather they rest on our efforts to complete the appraisal.
We determine the difference in value things like an additional 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, obtaining a professional appraisal is a reliable way to determine what improvements will add value and what a suitable 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.