Let REID E. CHOATE & ASSOCIATES, LLC serve your appraisal needs
Thousands of people in Hawaii buy, sell or refinance their home every month. A lot of these transactions involve a simple line item for an appraisal. Even though there are a multiplying number of automated home valuation methods that might appear cheaper than an appraisal, most lenders still want a local expert because the stakes are incredibly high. You might believe that securing a mortgage is the only reason to get an appraisal, but there are additional instances when the services of a licensed, independent real estate professional might be beneficial.
Dispute your tax assessment
If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At REID E. CHOATE & ASSOCIATES, LLC, we're equipped to assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that many lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. Oftentimes, this extra payment is folded into the monthly mortgage payment and is soon forgotten. This is bad because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, REID E. CHOATE & ASSOCIATES, LLC will produce a statement regarding the value of your home. The cost of the appraisal can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is a very daunting experience for the parties involved, and it is often even more complicated by the challenging decision of who gets the home. So both parties are fully aware of the true market value of their home, it's a good idea to order an appraisal from REID E. CHOATE & ASSOCIATES, LLC, 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 received a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair 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.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage 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 essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Hawaii County for work
Employee relocation can be a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a reliable way to decide 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.
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