6 Reasons to choose an appraisal from Mid-Ohio Appraisal Services
Year after year, thousands of people in Ohio purchase, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation methods that may appear to be cheaper than an appraisal. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are additional cases when the services of a certified, independent real estate professional might come in handy.
Dispute your tax assessment in Franklin County
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Mid-Ohio Appraisal Services, we're equipped to assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that nearly all lenders ask home owners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. 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 provide you with a statement regarding the value of your home, and the price you paid for the home valuation can generally be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be an especially horrible ordeal for both parties, and it is often more complicated by the hard decision of who keeps the property. Regardless of the situation, it's a good idea to order 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 a good idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
The death of a loved one is a painful 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthy individuals, most Americans don't 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, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Franklin County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — at an accurate price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, seeking a professional appraisal is a reliable way to determine 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.