Reasons to get an appraisal

To a lot of people, an appraisal is simply a line item in the long list of items for a mortgage or refinance. Practically all lenders still want a local expert because the stakes are so high, even though there are an increasing number of automated home valuation methods that may appear to be more prudent than an appraisal. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are additional cases when the services of a certified, independent real estate professional could come in handy.


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Appeal your tax assessment in Cook County

If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Distinctive Residential Appraisals, Inc. is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.

PMI removal will lower your mortgage payment

When the amount being loaned to the home buyer is more than 80% of the actual value of the real estate, almost all lenders ask home buyers to purchase an supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Distinctive Residential Appraisals, Inc. will provide you with a statement regarding the value of your home. The expense of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.

Divorce settlement with less stress

A divorce can be a very traumatic ordeal for both parties, and it is often more complicated by the strenuous decision of who gets the home. Regardless of the situation, it's prudent to order an appraisal from Distinctive Residential Appraisals, Inc. so both parties are fully aware of the true market value of their property.

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

Trustworthy estate liquidation

Losing a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the real estate involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. A home or other property often makes up an unequal 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 leave knowing they've received an honest deal.

Let Distinctive Residential Appraisals, Inc. help you with relocating to or from Cook County

We understand the stress associated with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough process, we suggest relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any recent sales or listings in their area that they want considered.

Sell your home quickly at the right price with an appraisal from Distinctive Residential Appraisals, Inc.

Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling 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 are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.

We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted 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 an unnecessarily long time - because we're experts in knowing how long homes are one the market.