Why you should hire an appraiser

Thousands of people in Ohio buy, sell or refinance their home each year. A lot of these transactions consist of a simple line item for an appraisal. And while there are a developing number of automated home valuation systems that may seem more cost-effective than an appraisal, the majority of lenders still need a local expert because the stakes are so high. Is obtaining a mortgage the only basis for getting an appraisal? Are there more cases when the services of a certified, independent real estate professional might come in handy? Of course there are.

Let Mid-Ohio Appraisal Services assist you in lowering your mortgage payment

Appeal your tax assessment

It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from Mid-Ohio Appraisal Services is your best evidence when building your case. We're capable of assisting you in disputing your tax assessment.

Removing PMI for mortgage payments

When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, many lenders ask homebuyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, Mid-Ohio Appraisal Services will give you a statement regarding the value of your home. The expense of the home valuation can generally be offset in a short amount of time because you'll no longer be paying the PMI.

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Settle a divorce with fewer hang-ups

A divorce is a very daunting ordeal for the parties involved, and it is often even more complicated by the burdensome decision of who gets the home. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from Mid-Ohio Appraisal Services, regardless of the situation.

If the parties need to sell the home, they'll have a a good idea 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.

Accurate and fair estate liquidation

Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.

Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten 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 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 about any current sales or listings in their area that they want considered during our detailed inspection.

Close on your home promptly — for 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 selling price. 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 finish the appraisal report.

We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining 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, because we're experts in knowing how long properties stay on the market.

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