• If you are selling by owner or through an agent you will begin your negotiations knowing what value to expect with an appraisal in hand.

• If you are buying a house or "fall in love" with a house, get an impartial, objective opinion in the form of an appraisal. Don’t overpay for a property.

• If you wish to maximize your sale price. The cost of an appraisal is low. You can probably get a quality professional appraisal for about 1/10th of one per cent of the sales price. It may save you tens of thousands of dollars.

• If you want to remove mortgage insurance (PMI) by proving to the mortgage lender that you no longer need this expensive insurance. Show the lender that the ratio of the loan to the current value now meets their requirements. To eliminate this expense find out from your lender what is needed - generally there is a minimum time the mortgage must have been in place and the appraised value must be sufficient to meet their loan to value requirements.

• If there is a divorce. Divorce litigation sometimes requires valuation of the home, often the principal asset of the husband and wife. Engage an appraiser who is comfortable doing litigation. Many appraisers do not like giving testimony as they must justify their work on the witness stand to a combative lawyer.

• If there are damages resulting from faulty construction. Such damages often result in litigation needing an appraisal to establish monetary damages.

• If there is real estate at the date of an individual's death. Estates must value all property of material value at date of death. Family members and lawyers typically engage appraisers for this work.

• If you wish to make charitable contributions arising from conservancy easements, the value must be justified by an appraisal as defined under the very specific requirements of the IRS.

• If there is a mortgage. Most appraisal assignments arise from lenders who are making a mortgage loan.

Schumacher Associates performs all of the assignments listed above.