Why you should order an appraisal from Mid-Ohio Appraisal Services
To many, an appraisal just looks like a line item on the settlement sheet for a home purchase or refinance. Most lenders still want a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that may appear to be cheaper than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are other times when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that most lenders ask home owners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. 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.
Mid-Ohio Appraisal Services will provide you with a statement regarding the value of your home, and the cost 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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Get a clear valuation on a home for divorce settlements
A divorce can be a particularly daunting ordeal for both parties, and it is often further complicated by the difficult decision of who keeps the house. Regardless of the circumstances, 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 house.
The parties will have a a good idea of what price to set, if they want 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 assessment.
Accurate and fair estate liquidation
Losing 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. 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 wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these issues. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Franklin County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — for an accurate price
A professional appraisal can help you make a more informed decision when determining your asking 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 price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, 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.