Why you should order an appraisal from Lundquist Appraisals & Real Estate Services
Thousands of people in Indiana buy, sell or refinance their home every month. A lot of these transactions consist of a simple line item for an appraisal. While there are a growing number of automated home valuation processes that may appear to be more practical than an appraisal, almost all lenders still need a local expert because the stakes are incredibly high. Is obtaining a mortgage the only basis for getting an appraisal? Are there other cases when the services of a certified, independent real estate professional could be helpful? Of course there are.
Appeal your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices have declined in your area, you can appeal 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 equipped to assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask home buyers to purchase this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is bad because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Lundquist Appraisals & Real Estate Services will produce a statement regarding the value of your home, and the price you paid for the home valuation can generally be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is an especially horrible experience for the parties involved, and it is often more complicated by the hard decision of who maintains the house. It's a good idea to get an appraisal from Lundquist Appraisals & Real Estate Services so both parties are completely aware of the true market value of their house, regardless of the circumstances.
If the parties want 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 gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Wabash County through an employee relocation program
We are familiar with the stress involved 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 suggest relocating employees to provide remarks on the positive characteristics of their property, along with information about any current sales or listings in their area that they want considered.
Sell your home promptly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. 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.