6 Reasons to consider an appraisal from Mid-Ohio Appraisal Services
Every year, thousands of people in Ohio buy, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation methods that might appear to be more prudent than an appraisal. You might think that obtaining a mortgage is the only reason to get an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be helpful.
Contest your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a previous assessment of your real estate, 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. At Mid-Ohio Appraisal Services, we're qualified to assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that most lenders ask home buyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments 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 cost of the home valuation can often be offset in just a few months because you'll no longer be paying the PMI.
Get your appraisal from Mid-Ohio Appraisal ServicesOrder today
Settle a divorce with less stress
A divorce is a particularly horrible experience for the parties involved, and it is often further complicated by the difficult decision of who keeps the property. 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, regardless of the situation.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
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 entails 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 maximum degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Franklin County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered.
Close on your home quickly — at an accurate 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 when determining your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
We examine 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 housesstay on the market. So, seeking a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.