Reasons to get an appraisal
Every year, thousands of people in Indiana purchase, sell or refinance their home. Most of these transactions involve a simple line item for an appraisal. And while there are a multiplying number of automated home valuation processes that may appear more cost-effective than an appraisal, almost all lenders still need a local expert because the stakes are incredibly high. Is securing a mortgage the only reason you should get an appraisal? Are there more times when the services of a certified, independent real estate professional might be beneficial? You bet.
Contest your tax assessment in Wabash County
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a previous assessment of your real estate, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Lundquist Appraisals & Real Estate Services, we're capable of assisting you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added 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 extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is damaging because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. 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 do away with PMI, Lundquist Appraisals & Real Estate Services will provide you with a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
Get your appraisal from Lundquist Appraisals & Real Estate ServicesOrder today
Settle a divorce with fewer hang-ups
A divorce is an especially horrible experience for the parties involved, and it is often more complicated by the difficult decision of who maintains the house. So both parties are fully 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 situation.
If the parties wish to sell the home, they'll have a a good 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.
Ascertain a fair and accurate 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Wabash County for work
We are aware of the headaches associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive features of their property, along with information regarding any current sales or listings in their area that they want considered.
Close on your home quickly — for the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
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 propertiesstay 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.