As a Realtor® I work with appraisers quite a bit on home sales. These days appraisers are assigned mainly through appraisal management companies, but not always. There are many other reasons why you may need to call an appraiser, which I will discuss here. When you do, you can’t do better in this are than Nicholson Appraisal Services, Inc.
Obviously if you are buying an individual home (house or condo) or if you are buying a rental property of up to 4 units, you will need to have the property appraised. If you are refinancing those same properties or taking out a home equity line of credit, you will also need to have them appraised. Norma Nicholson, owner and principal at Nicholson Appraisal Services, Inc., has been a licensed appraiser for over 20 years. Norma covers many of the counties in Southeastern Michigan – Oakland, Livingston, Wayne, Macomb, Washtenaw and Genesee.
Appraisals are also critical when major life changes occur, such as deaths and divorces. In most divorce cases the division of the real property in the divorce settlement requires that the home either be bought out by one of the two parties or that it be sold outright and the proceeds split. That requires that the value of the home be determined and the courts often require that an appraisal be done. The same thing happens in estate settlements when the surviving owner dies. In order to settle most estates the property must be sold and the proceeds split. Again it is critical to get a good appraisal.
Do you feel you are carrying too much of the Property Tax Burden in your community? Have an appraisal report completed by a professional licensed appraiser that will provide supportable documentation of the true market value of your property within the present market, not a market value that was assigned to you years ago. You stand a much better chance of getting your tax basis lowered when you go to the appeal process prepared with a professional appraisal.
If things have gone south for you and you are considering bankruptcy you will need to have your home appraised. Why do you need an appraisal for a bankruptcy filing? Because the court will order one and/or sometimes two if the final opinion of value has a wide range. A licensed appraiser must generate the appraisal report. The courts will not accept what is termed as a CMA (Certified Market Analysis) by a licensed realtor. So get ahead of the game and get an appraisal from Nicholson Appraisal Services.
Other reasons or times to use a professional appraiser include:
Insurance Claims for Fire, Wind and Water Damages – There needs to be a restoration value established before you should settle any claim, especially if the damage is such that replacement of the structure is required.
For Sale by Private Owners – the most common mistake made by FSBO sellers is pricing. You need to know the value that someone is going to be able to get a mortgage for, before set a price for the property; otherwise you wasting your time and that f potential buyers.
Pre-Marriage Estate Planning and Pre-nuptial agreements – you don’t have to be Donald Trump in order toe have a pre-nup agreement, but you do need to know what the value of the things are that you are trying to protect in the agreement.
Nicholson Appraisal Services uses state of the art appraisal software that includes digital photography and they are are EDI compatible for timely turnaround time via email transmissions. As they state on their web site – “Our Company is small enough to hold quality as the number one priority. That also allows us to extend the lowest appraisal fees within the area on to you.” To visit the Nicholson Appraisal Services, Inc. web site click here. Nicholson Appraisal Services, Inc. is located in Milford at 786 S. Milford Rd, Milford, MI 48381
Nicholson Appraisal Services, Inc. accepts VISA, Mastercard and American Express. Call Norma Nicholson if you have any of the needs discussed above. You’ll be glad you did. Office: 248-684-7987 or Cell: 248-342-9637