6 Reasons to order an appraisal from Lundquist Appraisals & Real Estate Services
Thousands of people in Indiana buy, sell or refinance their home every month. Many of these transactions contain a simple line item for an appraisal. Nearly all lenders still call in a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation methods that may seem more economical than an appraisal. Is obtaining a mortgage the only basis for getting an appraisal? Are there additional situations when the services of a licensed, independent real estate professional might be beneficial? Of course.
Appeal your tax assessment in Wabash 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 past assessment of your home, so if values have declined in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, nearly all lenders ask homeowners to take out this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Lundquist Appraisals & Real Estate Services can give you a statement regarding the value of your home, and the cost of the appraisal can generally be offset 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 is an especially horrible event for the parties involved, and it is often further complicated by the burdensome decision of who keeps the property. Regardless of the situation, it's a good idea to order an appraisal from Lundquist Appraisals & Real Estate Services so both parties are completely aware of the true market value of their house.
If the parties need to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to handle these matters, unlike wealthier individuals. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Wabash County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered during our detailed inspection.
Sell your home promptly — at the right price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we analyze 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, getting a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.