Appraisal Services
When there is real estate involved in the settlement of an estate, an appraisal is often required. This appraisal is most commonly a retrospective appraisal (as of the date of passing). Because I have consistently worked the entire Twin Cities metro area for the past 16 years, I have the ability to look back at any location at any point in time and see what was happening in terms of market conditions. This allows me to be confident in the final value regardless of the date requested. One major step in financial and estate planning after inventorying your assets is to accurately value those assets. For many people their home is their largest asset, others have multiple properties. In any case, a professional real estate appraiser will provide an accurate value on all real estate assets in your portfolio. I have the experience and expertise to handle all types of residential and small income properties in the estate planning process.
In most cases, a good real estate agent will determine an accurate price at which to list a home. However, there are instances where getting a professional appraisal is the way to go. Whether the home is particularly unique or there is a gap between where the agent and homeowner think the home should be listed, a formal appraisal could be the perfect tool and provide the next level of analysis to truly determine the most appropriate list price. This can also help make the listing process a bit smoother and less stressful once everyone is on the same page. There is nothing wrong with getting a second opinion to ensure your clients’ satisfaction.
Should a homeowner decide to list without the aid of a realtor, then I would strongly urge you to enlist the services of a professional appraiser. While some technologies have gotten better, relying on an on-line valuation site can be very misleading. Their estimates can change wildly from month to month which puts into question their overall accuracy. Making sure you get the right price for your home versus leaving thousands of dollars on the table is well worth the cost of the appraisal. It can also alleviate a lot of hassle and unnecessary showings if you were to over-list to begin with. It is common for homes to sell for far less than what they could have had the original list price been accurate to begin with. A professional appraisal can also be a good negotiating tool with any potential buyers.
On the flip side, if you are the potential buyer of a FSBO home and you are unsure about the list price or potential contract price, getting a second opinion from an unbiased third party can give you the piece of mind that you are making the right decision and getting a fair deal.
Lenders
Mortgage lending is the meat and potatoes of most residential appraisal firms. Acumen Appraisals is no different. I have been doing mortgage lending work for over 24 years and can meet nearly all lender needs including purchase, refinance, PMI removal, asset valuation, pre-foreclosure, and REO properties. Nearly all conventional, FHA, and in-house lending is well within my area of expertise. The only properties that I recuse myself from are the very high dollar properties (over $3 million), properties that blur the line between residential and commercial, and properties that are clearly working farms versus residential homes. I would love the opportunity to earn your business.
There are instances when the county does “over” assess a particular property. Every county has a formal appeal process. In many cases this can or will involve the hiring of an outside appraiser to determine the fair market value. If you are correct that your home has been over-assessed, having an independent third-party appraisal will be the best evidence you can provide to win your appeal.
Community land trusts are nonprofit organizations with the goal of providing affordable housing. In fulfilling this mission, the nonprofit essentially buys the land the home sits on and leases it to the homebuyer at a low annual rate on a near perpetual lease. This reduces the cost to the homebuyer. This also poses unique challenges for the appraiser. The appraiser needs to determine the leased fee and leasehold interest in determining the entire value of the property. I have the education requirements to handle this type of appraisal. CLTs have been around for quite some time, but in recent years have become much more prevalent in certain areas of the metro.
Divorce is a challenging process full of painful and difficult decisions. This may be one of those situations where a person is inclined to try to get an appraisal that “helps” them personally in the resolution. This is not a good idea. Getting a credible and accurate appraisal that is defensible in court is what you really need. I have the experience and professionalism to provide exactly that.