Why you should order an appraisal from Mid-Ohio Appraisal Services
To a lot of people, an appraisal is simply a line item on the settlement sheet for a home purchase or refinance. Almost all lenders still call in a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation systems that might appear more economical than an appraisal. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a licensed, independent real estate professional could come in handy.
Contest your tax assessment in Franklin County
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Mid-Ohio Appraisal Services, we're equipped to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, many lenders ask homeowners to buy this extra 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. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Mid-Ohio Appraisal Services can produce a statement regarding the value of your home, and the expense of the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the strenuous decision of who gets the property, and it can be an especially daunting experience for both parties. Regardless of the situation, it's a good idea to get an appraisal from Mid-Ohio Appraisal Services so both parties are entirely aware of the true market value of their home.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these matters, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Franklin County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information about any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — at an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide what improvements will add value and what an applicable 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.