Murphy Appraisal is hired for diverse purposes in Northeast Florida

Year after year, thousands of people in Florida purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Nearly all lenders still want a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation methods that may appear to be more practical than an appraisal. But is obtaining a mortgage the only reason to acquire an appraisal? Are there additional situations when the services of a licensed, independent real estate professional might come in handy? You bet there are.


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Challenge your tax assessment in Duval County

If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Murphy Appraisal is your best evidence when building your case. We're equipped to assist you in challenging your tax assessment.

PMI removal to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homeowners to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Most often, this added payment is lumped into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was approved by the United States Congress requiring lenders to do away with the PMI installments on most mortgages when the balance is paid down to 78% of the original value.

Murphy Appraisal will provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be offset in little time because you'll no longer be paying the PMI.

Divorce settlement with less stress

A divorce can be an especially traumatic ordeal for both parties, and it is often even more complicated by the burdensome decision of who maintains the home. Regardless of the situation, it's prudent to order an appraisal from Murphy Appraisal so both parties are fully aware of the true market value of their home.

If the parties wish to sell the home, they'll have a a good idea 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 with Murphy AppraisalSettling an estate

Losing 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. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocating to or from Northeast Florida?

Moving due to a job change can be a real pain. We know where you're coming from! We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information about any new sales or listings in their area that they want considered during our thorough process.

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

A professional appraisal will help you make a more informed decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.

On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Getting 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.