Why you should get an appraisal from DRB Appraisal
To many, an appraisal just looks like one more thing in the long list of items for a home purchase or refinance. Most lenders still call in a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation processes that might appear to be more practical than an appraisal. You might think that securing a mortgage is the only reason to get an appraisal, but there are other times when the services of a certified, independent real estate professional could come in handy.
Appeal your tax assessment
If you reside in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from DRB Appraisal is your best evidence when building your case. We can assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask home owners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. This added payment is often folded into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
DRB Appraisal can give you a statement regarding the value of your home, and the price you paid for the home valuation can often be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a very traumatic ordeal for both parties, and it is often further complicated by the troublesome decision of who keeps the property. It's a good idea to get an appraisal from DRB Appraisal so both parties are completely aware of the true market value of their home, 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 received a fair evaluation.
Accurate and fair 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 a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Blackford County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — at 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 can help you make a more informed 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 and aren't related to the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a trusted way to decide 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.