Let Mid-Ohio Appraisal Services take care of your appraisal needs
Every year, thousands of people in Ohio purchase, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. Almost all lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that may seem more cost-effective than an appraisal. You might believe that getting a mortgage is the only basis for getting an appraisal, but there are additional instances when the services of a certified, independent real estate professional might come in handy.
Challenge your tax assessment in Franklin County
It's probable 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 past assessment of your home, so if values are less than what they used to be in your area, you can challenge 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 capable of assisting you in challenging your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask home owners to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Mid-Ohio Appraisal Services can give you a statement regarding the value of your home, and the cost of 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 fewer hang-ups
A divorce can be a particularly horrible ordeal for both parties, and it is often further complicated by the difficult decision of who keeps the home. Regardless of the situation, 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 property.
The parties will have a better idea of what price to set, if they need 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 evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The loss of a loved one is a hard 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. 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 take care of these affairs, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Franklin County through an employee relocation program
We are aware of the stress associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive attributes of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — at an accurate price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine 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, because we're experts in knowing how long houses stay on the market.