At REID E. CHOATE & ASSOCIATES, LLC, we understand the special needs of a consumer in need of appraisal services.
The appraisal process and reporting formats are familiar to our business clients like lenders, attorneys, and CPAs. But as a consumer, you will receive extra guidance and explanations through the appraisal process to more clearly understand what we do and how we document our findings.
For-Sale-by-Owner (FSBO) / Pre-Listing Services
It's very hard to be objective about your own home because you probably have an emotional attachment to it.
A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.
In addition to helping you set a realistic selling price so your house will attract interested buyers, a professional appraisal is a very important negotiating tool once you have an interested buyer.
The appraisal is something tangible to show your buyer.
It's an independent third party's opinion of your house's value, and not just you saying how much your home is worth.
Interested buyers know that you have an emotional attachment to your home and will be much more likely to give credibility to a professional appraiser's value conclusion than yours.
Challenging Hawaii County's assessment of your property
Let's say you live in a local area that's declining -- your local tax assessor may have your house overvalued.
This only means you're most likely paying higher taxes than you should be paying.
Since your property assessment may likely go up again in the next period, the sooner you take care of things like this, the better.
Getting an appraisal report from REID E. CHOATE & ASSOCIATES, LLC is your strongest weapon when contesting your property tax assessment.
PMI Removal Appraisals
An attractive way to save money for homeowners is to get the PMI eliminated from their mortgage loan, thus saving them money on their monthly payments. PMI stands for "Private Mortgage Insurance".
Your monthly payments will go down once your mortgage loan is less than 80% of the value of your home. In most cases you can apply to the lender to have the PMI canceled from your loan.
At REID E. CHOATE & ASSOCIATES, LLC, we're qualified in helping customers just like you remove unwanted and unneeded PMI insurance.
HELOC recently frozen?
Even if your specific property has not declined in value, your lender may just make the decision to automatically freeze your home equity line of credit (HELOC) if your house is in or near a declining area.
Not only can this be difficult from a cash flow viewpoint, but it can be harmful to your credit score since it may appear as though that credit line is maxed out.
REID E. CHOATE & ASSOCIATES, LLC can help you reinstate your HELOC.
We Also Offer Field and Desktop Appraisal Review Services
Have you just received a copy of your appraisal and you would wish to have an expert double-check it for verity or do you want a second opinion without the expense and delay of waiting for a whole new appraisal?
In a field review we'll go out and check the subject and comps in question.
If you need it immediately, we'll provide desk review and verify as many facts as we can, using online data sources as well as our own files.
We can also provide you with a retrospective review of any appraisal you may have in your possession.
While typically requested by banks, you may desire to exercise this service if you suspect mortgage fraud related to your home.
REID E. CHOATE & ASSOCIATES, LLC PO Box 388 Pahoa, HI 96778-0388