6 Reasons you should order an appraisal from Independent Valuation Services
To a lot of us, an appraisal just looks like another fee on the break-sheet for a mortgage or refinance. The majority of lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might appear to be more economical than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there other cases when the services of a licensed, independent real estate professional might be helpful? You bet.
Contest your tax assessment in Scott County
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Very often, this added payment is lumped into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Independent Valuation Services can produce a statement regarding the value of your home, and the expense of the appraisal can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is an especially daunting ordeal for the parties involved, and it is often more complicated by the burdensome decision of who maintains the house. Regardless of the circumstances, 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 property.
The parties will have a better idea of what price to set, if they wish 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 assessment.
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 entails 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, ensuring the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Scott County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — at an accurate price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they rest on our efforts to complete 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 propertiesare on the market. So, getting 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.