6 Reasons you should order an appraisal from DRB Appraisal
To a lot of us, an appraisal just looks like one more thing on the break-sheet for a home purchase or refinance. Practically all lenders still call in a local expert because the stakes are so high, even though there are a budding number of automated home valuation processes that may seem more economical than an appraisal. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are additional cases when the services of a licensed, independent real estate professional could come in handy.
Appeal your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your real estate, so if values are less than what they used to be in your area, 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 qualified to assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask home owners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Since the added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is bad because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases 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 do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, DRB Appraisal will produce a statement regarding the value of your home. The expense of the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.
Order an appraisal from DRB AppraisalOrder online
Settle a divorce with less stress
A divorce is often complicated by the hard decision of who maintains the house, and it can be an especially traumatic occurrence for both parties. Regardless of the situation, 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 property.
The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for 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 do not have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Blackford County for work
We are familiar with the stress involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — at an accurate price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you want 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 are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
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 propertiesstay on the market. So, seeking 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.