6 Reasons to choose an appraisal from Independent Valuation Services
Thousands of people in Minnesota buy, sell or refinance their home each year. Most of these transactions have a simple line item for an appraisal. And even though there are a growing number of automated home valuation processes that may seem cheaper than an appraisal, nearly all lenders still want a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional cases when the services of a certified, independent real estate professional might be helpful.
Dispute your tax assessment in Scott County
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a past assessment of your real estate, so if values have gone down in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the property, many lenders ask home buyers to purchase this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Independent Valuation Services can give you a statement regarding the value of your home, and the expense of the appraisal can generally be offset 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 take make a divorce settlement less stressful
A divorce is a very horrible ordeal for the parties involved, and it is often even more complicated by the strenuous decision of who keeps the house. It's a good idea to get an appraisal from Independent Valuation Services so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine a fair and accurate valuation for 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 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.
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 understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Scott County for work
We are aware of the headaches associated with an employee relocation. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered.
Close on your home quickly — at the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. 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 determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, obtaining 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.