When To Consider An Appraiser

As we approach the year end of 2009, many of us may be re-evaluating our portfolios, our financial interests including property insurance and life insurance, reducing and/or consolidating our debt, and preparing our estate plans for the next generations. 

Although everyone knows it is necessary to appraise real estate to sell it, there are many other reasons people would contact a real estate appraiser. Here are some ways an appraisal of your real property may be useful in 2010:

• Getting a Real Estate Loan:  Establishing an Opinion of Value for a Real Estate Purchase or Refinance to lower interest or to provide collateral for other purchases of real and personal property.
• Establish an Opinion of Value for Dissolutions and Buyouts as in Divorce or Partnerships (Personal and Business).
• Rental Surveys for Residential Income Properties.
• Provide an Opinion of Value of Residential Real Estate for Probate, Estates and Trust purposes.
• Assess current value to be rid of obligation to buy property mortgage insurance –if value has risen, owner’s percentage of equity in property may have increased enough to eliminate the lender’s requirement to pay for property mortgage insurance.
• Reduce property taxes –If market value or property value has decreased since the property tax assessor last valued it.
• Conduct a right-of-way or easement appraisal –if owner must sell a piece of land for road widening or to grant an easement, an appraiser can make sure they are paid the fair current market value.
• Business appraisals for the purchase, liquidation, financing or estate tax settlement businesses.
• Establish an Opinion of Value for Listings of Residential Real Estate.
• Establish an Opinion of Value for special types of Real Estate including Land Appraisals, Real Estate Owned properties, etc.
• Establish an Opinion of Value for Charitable Donations.
• Provide Expert Testimony and Litigation Support.
• Provide Highest and Best Use Analysis.
• Provide an Opinion of Value for improvements, additions and for plans and specs.

We hope that your plans for the Holiday Season provide rest, relaxation, and time with your family and friends.  If we may be of help in any of your real estate appraisals needs as outlined above, please do not hesitate to contact us.

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