6 Reasons you should order an appraisal from Mid-Ohio Appraisal Services

Thousands of people in Ohio buy, sell or refinance their home each month. Most of these transactions contain a simple line item for an appraisal. The majority of lenders still want a local expert because the stakes are so high, even though there are a developing number of automated home valuation processes that might appear more cost-effective than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there other situations when the services of a certified, independent real estate professional could come in handy? Of course.

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

Challenge your tax assessment

If you reside in an area where the property value has declined, 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 appealing your tax assessment.

Remove PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance policy that many lenders ask buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the property. This additional payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the remainder 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 requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.

Mid-Ohio Appraisal Services can provide you with a statement regarding the value of your home, and the price you paid for the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.

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Get a fair valuation on a home for divorce settlements

A divorce is a particularly traumatic event for the parties involved, and it is often even more complicated by the burdensome decision of who gets the home. 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, regardless of the situation.

If the parties wish to sell the home, they'll have a better 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 hard 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. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these matters. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received 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 setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive features of their property, along with information about any recent sales or listings in their area that they want considered.

Sell your home quickly — for an accurate price

Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to finish the appraisal report.

We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to determine what improvements will add value and what an applicable 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