Reasons to get an appraisal
Every year, thousands of people in Indiana buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. And while there are an increasing number of automated home valuation systems that may seem more practical than an appraisal, practically all lenders still need a local expert because the stakes are incredibly high. You might think that getting a mortgage is the only reason to get an appraisal, but there are more instances when the services of a licensed, independent real estate professional might be beneficial.
Dispute your tax assessment in Blackford County
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if prices have declined in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, nearly all lenders ask buyers to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this extra payment is lumped into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
DRB Appraisal can produce a statement regarding the value of your home, and the cost of the appraisal can often be recovered in little time because you'll no longer be paying the PMI.
Order an appraisal from DRB AppraisalOrder online
Divorce settlement with less stress
A divorce can be a particularly traumatic experience for both parties, and it is often further complicated by the hard decision of who gets the property. It's a good idea to order an appraisal from DRB Appraisal so both parties are fully aware of the true market value of their property, regardless of the circumstances.
If the parties need 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 received a fair assessment.
Fair and accurate estate liquidation
The death of 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthier individuals, most Americans don't 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 understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Blackford County for work
We understand the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive features of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, obtaining 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.