Reasons to order an appraisal

Year after year, thousands of people in Maryland buy, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. The majority of lenders still want a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation methods that may appear more prudent than an appraisal. But is obtaining a mortgage the only reason you should get an appraisal? Are there more situations when the services of a certified, independent real estate professional could be helpful? You bet.


	If you're planning on any transaction where the value of your house is a factor, you should contact DMV Appraisals. Just click here.

Dispute your tax assessment in Wicomico County

It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from DMV Appraisals is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.

Let DMV Appraisals assist you in lowering your mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask home buyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

DMV Appraisals can give you a statement regarding the value of your home, and the price you paid for the home valuation can generally be regained in a short amount of time because you'll no longer be paying the PMI.

An appraisal from DMV Appraisals will help you settle a divorce with less stress

A divorce is a particularly daunting ordeal for the parties involved, and it is often further complicated by the difficult decision of who keeps the property. It's a good idea to get an appraisal from DMV Appraisals so both parties are fully aware of the true market value of their home, regardless of the situation.

If the parties want to sell the home, they'll have a a good 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 gotten a fair assessment.

Settling an estate with peace of mind

Losing a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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 utmost degree of discretion.

Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. 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 received a fair deal.

DMV Appraisals can assist you in relocating to or from Wicomico County

Employee relocation can be a more than just an inconvenience. We know where you're coming from. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough process, we suggest employees that are moving to provide remarks on the positive attributes of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.

Let DMV Appraisals help you sell your home quickly at the right price

Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal.

On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted 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 - because we're experts in knowing how long properties stay on the market.