6 Reasons to choose an appraisal from Mid-Ohio Appraisal Services
To many, an appraisal just looks like another fee on the settlement sheet for a home purchase or refinance. Nearly all lenders still want a local expert because the stakes are so high, even though there are a growing number of automated home valuation methods that may seem less expensive than an appraisal. You might believe that getting a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a certified, independent real estate professional might be helpful.
Appeal your tax assessment in Franklin County
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, most lenders ask buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments 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 price you paid for the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the challenging decision of who gets the house, and it can be a very daunting occurrence for both parties. Regardless of the situation, it's a good idea to order an appraisal from Mid-Ohio Appraisal Services so both parties are fully aware of the true market value of their property.
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 gotten a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death 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 highest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these matters. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Franklin County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive aspects of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of 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 things like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to determine 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 houses stay on the market.