Reasons to get an appraisal from Fred Baum

To many, an appraisal is simply a line item on the break-sheet for a home sale or refinance. Almost all lenders still want a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation methods that may appear to be cheaper than an appraisal. You might think that securing a mortgage is the only reason to get an appraisal, but there are other times when the services of a certified, independent real estate professional could come in handy.


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Let Fred Baum help you appeal your tax assessment in Anne Arundel County

If you reside in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from Fred Baum is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.

Getting rid of your PMI will lower your mortgage payment

When the amount being loaned to the home owner is more than 80% of the actual value of the property, almost all lenders ask homeowners to buy an extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often lumped into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI installments on most mortgages when the balance is paid down to 78% of the original value.

Fred Baum will give you a statement regarding the value of your home, and the price you paid for the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.

An appraisal from Fred Baum will help you settle a divorce with less stress

A divorce is a particularly traumatic ordeal for the parties involved, and it is often further complicated by the burdensome decision of who keeps the property. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from Fred Baum, regardless of the situation.

If the parties want to sell the home, they'll have a better 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

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

Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. A home or other property often makes up an uneven 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 gotten an honest deal.

Relocating to or from Anne Arundel County?

We are familiar with the headaches associated with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information regarding any current sales or listings in their area that they want considered during our intensive process.

Don't sell out short or let your home stay on the market too long.

Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, which is different than the interest of real estate agents. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.

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 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 properties are one the market.