6 Reasons to order an appraisal from Lundquist Appraisals & Real Estate Services
To many, an appraisal just looks like another cost in the long list of items for a home sale or refinance. And even though there are a growing number of automated home valuation processes that may appear to be more economical than an appraisal, practically all lenders still call for a local expert because the stakes are very high. Is securing a mortgage the only reason you should get an appraisal? Are there other cases when the services of a certified, independent real estate professional might be beneficial? You bet.
Dispute your tax assessment in Wabash County
If you live in an area where the value of property has 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. We're equipped to assist you in disputing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance plan that nearly all lenders ask homebuyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. This added payment is often lumped into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Lundquist Appraisals & Real Estate Services will produce a statement regarding the value of your home. The expense of the appraisal can often be recovered in a short amount of 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 is a particularly traumatic event for the parties involved, and it is often further complicated by the hard decision of who maintains the property. It's a good idea to get an appraisal from Lundquist Appraisals & Real Estate Services so both parties are fully aware of the true market value of their house, regardless of the situation.
The parties will have a a good idea of what price to set, if they want 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.
Accurate and fair estate liquidation
The loss of a loved one is a hard 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.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Wabash County for work
Employee relocation is a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive attributes of their property, along with information about any recent sales or listings in their neighborhood that they want considered.
Sell your home quickly — at an accurate price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. 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, because we're experts in knowing how long houses stay on the market.