Why you should get an appraisal from Independent Valuation Services
To a lot of people, an appraisal is simply another fee in the long list of items for a home sale or refinance. While there are a developing number of automated home valuation methods that might appear cheaper than an appraisal, the majority of lenders still call for a local expert because the stakes are very high. You might believe that obtaining a mortgage is the only reason you should get an appraisal, but there are additional cases when the services of a certified, independent real estate professional could be helpful.
Challenge 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 declined. Ad Valorem taxes are determined by a past assessment of your real estate, so if prices have gone down in your area, you can appeal your assessment and save money. An appraisal from Independent Valuation Services is your best evidence when building your case. At Independent Valuation Services, we're equipped to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask home buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the property. This added payment is often bundled into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, 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.
Independent Valuation Services can provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is an especially traumatic event for the parties involved, and it is often even more complicated by the hard decision of who gets the home. Regardless of the situation, it's a good idea to order an appraisal from Independent Valuation Services so both parties are fully aware of the true market value of their home.
If the parties need 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 gotten a fair assessment.
Ascertain an accurate and fair valuation for 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Scott County for work
Employee relocation can be a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — for 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. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting 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 houses stay on the market.