McMillin Real Estate & Appraisal, Inc. in Vicksburg perform appraisals for numerous purposes

To a lot of people, an appraisal just looks like one more thing on the break-sheet for a home purchase or refinance. Most lenders still need a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that may appear more economical than an appraisal. You might believe that securing a mortgage is the only reason to get an appraisal, but there are more instances when the services of a certified, independent real estate professional might come in handy.


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Let McMillin Real Estate & Appraisal, Inc. help you appeal your tax assessment in Warren County

It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a previous assessment of your home, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from McMillin Real Estate & Appraisal, Inc. is your best evidence when building your case. At McMillin Real Estate & Appraisal, Inc.,we can assist you in appealing your tax assessment.

PMI removal to lower your mortgage payment

When the amount being loaned to the homeowner is more than 80% of the actual value of the real estate, most lenders ask homebuyers to purchase an additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to do away with PMI, McMillin Real Estate & Appraisal, Inc. will provide you with a statement regarding the value of your home. The price you paid for the appraisal can often be offset in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is often complicated by the hard decision of who keeps the property, and it can be a particularly heartbreaking occurrence for both parties. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from McMillin Real Estate & Appraisal, Inc., regardless of the situation.

If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Accurate and fair estate liquidation

The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these matters. And since a home or other property often makes up an unequal share of the total estate value, understanding the precise value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Relocating to or from Warren County?

We understand the headaches associated with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our thorough process.

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

A professional appraisal will help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't contingent upon the value we report, but rather they rest on our efforts to complete the appraisal.

We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long houses stay on the market. So, getting a professional appraisal is a trusted 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.