Wallace Appraisal Service LLC in Odessa do appraisals for a variety of reasons

To a lot of people, an appraisal is simply a line item in the long list of items for a mortgage or refinance. And even though there are a multiplying number of automated home valuation systems that might appear more prudent than an appraisal, the majority of lenders still want a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be beneficial.


	For real estate appraisals in Odessa and Ector County, it's easiest when your order online from Wallace Appraisal Service LLC, just click here.

Challenge your tax assessment in Ector County

It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your real estate, so if values have gone down in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from Wallace Appraisal Service LLC is your best evidence. At Wallace Appraisal Service LLC,we can assist you in challenging your tax assessment.

PMI removal to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask home owners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the property. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress that requires lenders to do away with the PMI payments when the balance is paid down to 78% of the original value.

Wallace Appraisal Service LLC can provide you with a statement regarding the value of your home, and the cost of the home valuation can generally be regained in a short amount of time because you'll no longer be paying the PMI.

Settling a divorce with less stress with an appraisal from Wallace Appraisal Service LLC

A divorce can be a particularly traumatic event for both parties, and it is often further complicated by the burdensome decision of who maintains the house. It's a good idea to get an appraisal from Wallace Appraisal Service LLC so both parties are completely aware of the true market value of their property, regardless of the circumstances.

If the parties wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Fair and accurate estate liquidation

The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Market Value for the residential property involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Relocating to or from Ector County

Employee relocation can be a stressful event. We know where you're coming from! We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information about any recent sales or listings in their area that they want considered during our detailed process.

Selling your home quickly at the right price with an appraisal from Wallace Appraisal Service LLC

Whether you choose 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. Separate from 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 are based on our efforts to finish the appraisal.

We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate 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 houses stay on the market.