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As a potential buyer you may need to secure a loan to purchase a property. Because the security for the loan is usually the property itself, most lending institutions will require an appraisal to determine the property’s fair market value. PMI or Private Mortgage Insurance may be required by the lender if you borrow more than 80 percent of the property’s value at the time of the loan. More... |
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Banyan Appraisals, Inc. |
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When you need to get an Appraisal and when you should: |
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As a potential seller it would be wise to consider a professional appraisal. Knowing the present market value of your property will allow you to make an informed decision when setting the list price and when accepting a realistic purchase price. An overpriced home will not attract buyers. Getting a professional appraisal can help eliminate wasted time and effort marketing an overvalued home. More.. |
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The settling of an estate usually involves obtaining an appraisal of any real-estate involved in order to determine its fair market value. Estate liquidation can occur for several different reasons, death and divorce are two of the most common. In situations involving the death of a loved one typically the appraisal is back dated to the date of death. The estate executer and or the accountant for the estate can help determine the ‘as of date’ that will be required. More.. |
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If PMI or Mortgage Insurance was required at the time of your loan, your property may qualify to have the PMI removed. In 1998 Congress passed the Home Owners protection act. This law effects all loans originated after 1999 and requires lenders to terminated the PMI when the principle balance of the loan reaches 78 percent of the original loan amount. It also stipulates that the lender must remove the PMI upon the request of the borrower when the principle amount is at or below 80 percent of the homes value. More.. |
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Once a year the property appraisers office accesses your property. Understanding the different values on your property tax card can be daunting. Once you receive your TRIM notice (preliminary tax notice), around the third week in August each year, you have 25 days to file an appeal or you loose the opportunity to fight your taxes until next year. More.. |
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At Banyan Appraisals, Inc. we strive to remain head and shoulders above the rest. When you request an appraisal product from us, you can expect personal service at every stage. We offer a variety of options tailored to meet your needs such as same day appraisals, and volume discounts More.. |