Reasons to get an appraisal from DRB Appraisal
Each year, thousands of people in Indiana buy, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation systems that may seem less expensive than an appraisal. You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a certified, independent real estate professional could come in handy.
Contest 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 depreciated. Property taxes are determined by a previous assessment of your home, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. An appraisal from DRB Appraisal is your best evidence when building your case. At DRB Appraisal, we're capable of assisting you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance policy that almost all 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. More often than not, this additional payment is bundled into the monthly mortgage payment and is soon forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
DRB Appraisal will produce a statement regarding the value of your home, and the price you paid for the appraisal can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a particularly daunting experience for both parties, and it is often further complicated by the strenuous decision of who maintains the property. Regardless of the situation, 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 home.
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 gotten a fair assessment.
Ascertain an accurate and fair valuation for 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, ensuring the maximum degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. 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 walk away knowing they've received an honest deal.
Relocate to or from Blackford County through an employee relocation program
We know the stress involved with an employee relocation. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, along with information regarding any new sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — at the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, getting a professional appraisal is a reliable way to decide 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.