Frequently Asked Questions
What is a residential appraisal?
A residential appraisal is a professional assessment of the value of a residential property, including homes and condos, conducted by a certified property appraiser.
How can an appraisal benefit me?
An appraisal provides an accurate valuation of your property, which is crucial for various purposes, such as estate planning, divorce settlements, and PMI removal.
What information is included in an appraisal report?
An appraisal report includes detailed information about the property’s condition, features, and comparable sales data, all of which contribute to the final valuation.
Why do I need a home appraisal?
A home appraisal is essential for determining the fair market value of your property, whether you’re selling, refinancing, or settling an estate.
What is a probate appraisal?
A probate appraisal is specifically performed to establish the value of assets within an estate for legal and inheritance purposes.
How can a property appraiser help with estate planning?
A property appraiser can provide accurate estate appraisals to assist in estate planning, ensuring fair distribution among heirs.
What is involved in an estate appraisal?
An estate appraisal assesses the value of all assets, including real estate, to aid in the distribution of assets among beneficiaries.
How can a divorce appraisal be beneficial?
A divorce appraisal determines the value of marital property, assisting in equitable property division during divorce proceedings.
What factors are considered in a residential property appraisal?
A residential property appraisal takes into account factors like property condition, location, market trends, and comparable sales.
Can I remove PMI with an appraisal?
Yes, PMI removal appraisal helps homeowners eliminate costly private mortgage insurance premiums by demonstrating sufficient home equity.
What is a date of death appraisal?
A date of death appraisal determines the fair market value of a property as of the date of a property owner’s passing for estate settlement purposes.
How long does an appraisal typically take?
The duration of an appraisal can vary but generally takes a few days to a week, depending on the complexity of the property.
Do I need to be present during the appraisal?
You don’t have to be present, but it’s helpful to provide the appraiser with access to your property for a more accurate assessment.
Are online appraisal tools reliable?
Online appraisal tools can provide estimates, but for precise valuations, it’s recommended to consult a certified appraiser.
What sets Paragon Appraisals LLC apart in the appraisal industry?
Paragon Appraisals LLC stands out for its expertise, accuracy, and commitment to providing reliable appraisal services tailored to your needs.