Reasons to get an appraisal from Mid-Ohio Appraisal Services

To a lot of people, an appraisal just looks like another cost in the long list of items for a home sale or refinance. And even though there are an increasing number of automated home valuation processes that may seem less expensive than an appraisal, the majority of lenders still need a local expert because the stakes are very high. You might assume that securing a mortgage is the only reason to acquire an appraisal, but there are more situations when the services of a certified, independent real estate professional could be helpful.

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Appeal your tax assessment in Franklin County

It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if values have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from Mid-Ohio Appraisal Services is your best evidence when building your case. We're equipped to assist you in appealing your tax assessment.

Get rid of PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask home owners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Mid-Ohio Appraisal Services can produce a statement regarding the value of your home. The expense of the home valuation can usually be recovered in little time 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 very daunting experience for both parties, and it is often further complicated by the hard decision of who maintains the home. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from Mid-Ohio Appraisal Services, regardless of the situation.

The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Fair and accurate estate liquidation

The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.

Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, 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.

Relocate to or from Franklin County for work

Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our intensive inspection.

Close on your home promptly — for an accurate price

A professional appraisal can help you make a better educated decision regarding your selling 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, unlike real estate agents. Our fees aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.

On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay 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.

Let Mid-Ohio Appraisal Services assist you in selling your home quickly at the right price