Let Mid-Ohio Appraisal Services handle your appraisal needs
To a lot of people, an appraisal is simply a line item in the long list of items for a home sale or refinance. And even though there are a developing number of automated home valuation systems that might appear more economical than an appraisal, practically all lenders still want a local expert because the stakes are so high. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional times when the services of a licensed, independent real estate professional could come in handy? Of course.
Challenge your tax assessment in Franklin County
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Mid-Ohio Appraisal Services is your best evidence when building your case. We can assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the property, almost all lenders ask home buyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. 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.
If you'd like to eliminate PMI, Mid-Ohio Appraisal Services will produce a statement regarding the value of your home. The cost of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the strenuous decision of who keeps the house, and it can be an especially horrible event for both parties. Regardless of the situation, it's a good idea to get an appraisal from Mid-Ohio Appraisal Services so both parties are entirely aware of the true market value of their home.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
The death 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 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 wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these issues. A home or other property often makes up an unequal 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 gotten an honest deal.
Move to or from Franklin County for work
Employee relocation can be a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any recent sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for the right price
Whether you choose 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 price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a reliable way to decide 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.