Let Independent Valuation Services take care of your appraisal needs
Thousands of people in Minnesota purchase, sell or refinance their home every month. Most of these transactions have a simple line item for an appraisal. Even though there are a budding number of automated home valuation processes that may seem cheaper than an appraisal, most lenders still need a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to get an appraisal? Are there more situations when the services of a certified, independent real estate professional could be beneficial? You bet.
Challenge your tax assessment
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 based upon a previous assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from Independent Valuation Services is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, most lenders ask buyers to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Independent Valuation Services will give you a statement regarding the value of your home. The expense of the home valuation can usually be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a particularly daunting experience for both parties, and it is often even more complicated by the difficult decision of who keeps the property. It's a good idea to order an appraisal from Independent Valuation Services so both parties are completely aware of the true market value of their house, regardless of the situation.
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 evaluation.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a difficult 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, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Scott County for work
Employee relocation is 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 feedback on the positive aspects of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed 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 aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long homes stay on the market.