6 Reasons you should order an appraisal from DRB Appraisal
Each year, thousands of people in Indiana buy, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. Even though there are a developing number of automated home valuation methods that might seem more cost-effective than an appraisal, practically all lenders still need a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to get an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment in Blackford County
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. 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 home buyeris more than 80% of the actual value of the home, almost all lenders ask buyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
DRB Appraisal will provide you with a statement regarding the value of your home, and the expense of the appraisal can generally be recovered 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 take make a divorce settlement less stressful
A divorce is a particularly horrible event for the parties involved, and it is often even more complicated by the difficult decision of who gets the house. Regardless of the circumstances, it's a good idea to order an appraisal from DRB Appraisal so both parties are completely aware of the true market value of their property.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a hard 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 fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Blackford County through an employee relocation program
We understand the stress associated 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 remarks on the positive aspects of their property, along with information about any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home quickly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we examine 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 a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.