Let Mid-Ohio Appraisal Services attend to your appraisal needs
To a lot of us, an appraisal just looks like a line item on the settlement sheet for a mortgage or refinance. And while there are a developing number of automated home valuation methods that may appear to be more practical than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional situations when the services of a licensed, independent real estate professional could be helpful? You bet there are.
Challenge your tax assessment
If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, many lenders ask homeowners to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Mid-Ohio Appraisal Services will give you a statement regarding the value of your home, and the expense of the appraisal can generally be regained 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 for divorce settlements
A divorce can be a particularly horrible ordeal for both parties, and it is often more complicated by the challenging decision of who maintains the house. It's a good idea to get an appraisal from Mid-Ohio Appraisal Services so both parties are completely aware of the true market value of their house, regardless of the circumstances.
The parties will have a good idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Franklin County for work
We know the stress involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks 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 detailed inspection.
Sell your home promptly — at the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, getting a professional appraisal is a reliable way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.