Reasons to get an appraisal from Lundquist Appraisals & Real Estate Services
To a lot of us, an appraisal is simply another cost in the long list of items for a mortgage or refinance. Almost all lenders still call for a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation methods that may appear more practical than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a certified, independent real estate professional might come in handy.
Appeal your tax assessment
If you are in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Lundquist Appraisals & Real Estate Services is your best evidence when building your case. We can assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, many lenders ask home buyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Lundquist Appraisals & Real Estate Services can provide you with a statement regarding the value of your home, and the price you paid for the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is often complicated by the burdensome decision of who maintains the house, and it can be an especially traumatic experience for both parties. Regardless of the situation, it's a good idea to order an appraisal from Lundquist Appraisals & Real Estate Services so both parties are entirely aware of the true market value of their property.
The parties will have a clearer picture of what price to set, if they wish 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 hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the highest 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 do not have dedicated estate planners or executors to handle these matters. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Wabash County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating 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 area that they want considered during our detailed inspection.
Sell your home promptly — at an accurate price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated 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 homesare on the market. So, getting a professional appraisal is a reliable 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.