Remove Government Remove Insurance Remove Market Value Remove Property Taxes
article thumbnail

How reverse mortgages could improve financial stability for older homeowners

Housing Wire

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Also, an independent appraisal during the loan process locks in the property’s market value at the time the reverse mortgage loan is funded. Not tax advice. Consult a tax professional. †

Mortgage 393
article thumbnail

26 Reasons to Get an Appraisal

Realvals

By providing an unbiased estimate of a property’s value, an appraisal ensures that you know the real value of your property. Estate planning, property tax appeals, divorces, and gifting, are some of the many others. Estate Taxes In some cases, local laws may require appraisals for estate tax purposes.

Appraisal 145
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Expert Witness Testimony: The Indispensable Role of Real Estate Appraisers in Legal Disputes

Boston Appraisal

Estate and Inheritance Conflicts : When estates are divided, accurate property valuations are essential for fair distribution among heirs. Appraisers assess the fair market value of inherited properties, taking into account factors like location, condition, and market trends.

Legal 148
article thumbnail

Financing Options for First-Time Homeowners

Eppraisal

Conventional Mortgages Conventional mortgages are home loans not insured by the federal government. Lenders can easily resell these loans to investors on secondary markets and get them off their books. On the contrary, nonconforming or jumbo loans are too expensive for government-sponsored entities to guarantee.  If

Finance 69
article thumbnail

Why You May Need a Commercial Property Appraisal

East Coast Appraisal

An appraisal can help you set the appropriate listing price if you want to sell your property. For example, you can: Set the listing price slightly above the appraisal value if you don't want to sell the property below its market value. Several tax issues call for a commercial property appraisal.

article thumbnail

Mortgage Term Glossary

Assurance Financial

Assessed Value. The assessed value of your home is how much it is worth in the eyes of the tax agency in your municipality. The assessed value is used to calculate your property taxes. It can be less than the market or appraised value of your home. The federal government issues the certificate.

article thumbnail

12 Types of Expert Witness Assignments for Appraisers

McKissock

Tax appeal. Typically, this would be for local property tax appeals. Income tax (IRS) issues. This could be for estate or probate cases, and often involves determining a retrospective market value if a taxpayer neglected to obtain an appraisal when property was inherited. Insurance claims.