Why you should order an appraisal

Thousands of people in Ohio buy, sell or refinance their home every month. Many of these transactions involve a simple line item for an appraisal. Nearly all lenders still call for a local expert because the stakes are very high, even though there are an increasing number of automated home valuation processes that might seem less expensive than an appraisal. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are more instances when the services of a certified, independent real estate professional could come in handy.

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

Challenge your tax assessment in Franklin County

It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a previous assessment of your home, so if prices are less than what they used to be in your area, 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 appealing your tax assessment.

Eliminate PMI to lower your mortgage payment

When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, most lenders ask homeowners to take out this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is damaging because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with 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 price you paid for the home valuation can usually be regained 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 is an especially traumatic ordeal for the parties involved, and it is often even more complicated by the burdensome decision of who gets the house. So both parties are fully aware of the true market value of their home, it's a good idea to get an appraisal from Mid-Ohio Appraisal Services, regardless of the circumstances.

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

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. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these issues. 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 leave knowing they've gotten an honest deal.

Relocate to or from Franklin County for work

Employee relocation is a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, along with information about any current sales or listings in their neighborhood that they want considered during our intensive inspection.

Close on your home promptly — at an accurate price

A professional appraisal will help you make a better educated decision regarding your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.

On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted 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, because we're experts in knowing how long homes are one the market.

Let Mid-Ohio Appraisal Services help you sell your home quickly at the right price