Reasons to order an appraisal
Thousands of people in Indiana buy, sell or refinance their home every month. Many of these transactions involve a simple line item for an appraisal. Nearly all lenders still want 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 prudent than an appraisal. You might believe that obtaining a mortgage is the only reason you should get an appraisal, but there are more instances when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment in Wabash County
If you reside in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Lundquist Appraisals & Real Estate Services is your best evidence when building your case. At Lundquist Appraisals & Real Estate Services, we're capable of assisting you in challenging your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask homeowners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is unnecessary 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) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Lundquist Appraisals & Real Estate Services will produce a statement regarding the value of your home, and the cost of the appraisal can generally be regained in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be a very horrible event for both parties, and it is often even more complicated by the hard decision of who maintains the home. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from Lundquist Appraisals & Real Estate Services, regardless of the situation.
The parties will have a a good idea of what price to set, if they need 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 evaluation.
Fair and accurate estate liquidation
The loss 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true worth 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 Wabash County for work
We understand the stress associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information about 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 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 better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. Seeking 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, because we're experts in knowing how long homes are one the market.