6 Reasons to consider an appraisal from Lundquist Appraisals & Real Estate Services
To many, an appraisal just looks like another fee in the long list of items for a home purchase or refinance. And while there are a growing number of automated home valuation processes that might seem more practical than an appraisal, the majority of lenders still want a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there also times when the services of a licensed, independent real estate professional could come in handy? Of course.
Appeal your tax assessment in Wabash County
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if prices have gone down 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 capable of assisting you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't required 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 passed by the United States Congress 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 do away with PMI, Lundquist Appraisals & Real Estate Services will give you a statement regarding the value of your home. The cost of the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a very horrible experience for the parties involved, and it is often further complicated by the strenuous decision of who gets the house. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from Lundquist Appraisals & Real Estate Services, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
Losing 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. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't 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.
Move to or from Wabash County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — at the right price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or use the assistance 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 depend on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze 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 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 are one the market.