Why you should get an appraisal from Mid-Ohio Appraisal Services

To a lot of people, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. Even though there are an increasing number of automated home valuation methods that might seem more practical than an appraisal, nearly all lenders still need a local expert because the stakes are very high. Is getting a mortgage the only reason to get an appraisal? Are there other instances when the services of a licensed, independent real estate professional might be helpful? You bet.

Let Mid-Ohio Appraisal Services help you lower your mortgage payment

Contest your tax assessment

It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Mid-Ohio Appraisal Services, we're capable of assisting you in disputing your tax assessment.

PMI removal to lower a mortgage payment

When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, many lenders ask buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is soon forgotten. This is damaging because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, Mid-Ohio Appraisal Services can produce a statement regarding the value of your home. The cost of the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.

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Divorce settlement with fewer hang-ups

A divorce can be an especially daunting experience for both parties, and it is often more complicated by the challenging decision of who gets the property. 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 want 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.

Fair and accurate estate liquidation

The death of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.

Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.

Relocate to or from Franklin County through an employee relocation program

Employee relocation is a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered.

Sell your home quickly — at the right price

A professional appraisal will help you make a better educated decision when determining your selling price, whether you want 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 calculated 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. And we're experts in knowing how long homesare on the market. So, getting 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.

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