Why you should get an appraisal

Every year, thousands of people in Colorado buy, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. Practically all lenders still call in a local expert because the stakes are very high, even though there are a developing number of automated home valuation methods that may appear to be more practical than an appraisal. But is obtaining a mortgage the only basis for getting an appraisal? Are there other times when the services of a licensed, independent real estate professional could come in handy? Of course.

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Let McClain Appraisal Services assist you in lowering your mortgage payment

When the amount being loaned to the homeowner is more than 80% of the actual value of the home, almost all lenders ask home owners to buy an supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments on most mortgages when the balance is paid down to 78% of the original value.

McClain Appraisal Services can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can generally be offset in a short amount of time because you'll no longer be paying the PMI.

An appraisal from McClain Appraisal Services will help you settle a divorce with less stress

A divorce can be an especially daunting experience for both parties, and it is often further complicated by the difficult decision of who gets the house. Regardless of the situation, it's a good idea to get an appraisal from McClain Appraisal Services so both parties are entirely aware of the true market value of their property.

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

Fair and accurate estate liquidation with McClain Appraisal ServicesSettling an estate

The loss of 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum 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, understanding the absolute value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.

McClain Appraisal Services can help you with relocating to or from Grand County

Moving due to a job change is a stressful event. 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. We encourage relocating employees to provide input on the positive features of their property, along with information about any new sales or listings in their area that they want considered during our detailed process.

Sell your home quickly at the right price with an appraisal from McClain Appraisal Services

Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding 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. The price we charge isn't contingent upon the value we come up with, but rather they rest on our efforts to complete the appraisal.

We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. 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 an unnecessarily long time - because we're experts in knowing how long properties are one the market.