Reasons you should order an appraisal from Lundquist Appraisals & Real Estate Services
Thousands of people in Indiana purchase, sell or refinance their home each year. Most of these transactions consist of a simple line item for an appraisal. Nearly all lenders still call for a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation methods that may seem more cost-effective than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are additional situations when the services of a certified, independent real estate professional could come in handy.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your house, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Lundquist Appraisals & Real Estate Services is your best evidence when building your case. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that many lenders ask buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Seeing that extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Lundquist Appraisals & Real Estate Services can produce a statement regarding the value of your home, and the cost of the appraisal can usually be recovered in just a few months 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 strenuous decision of who gets the property, and it can be an especially horrible event for both parties. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from Lundquist Appraisals & Real Estate Services, regardless of the circumstances.
If the parties need 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 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 calls for an appraisal to establish Fair Market Value for the real estate 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 many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Wabash County for work
We understand the headaches involved with an employee relocation. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide remarks on the positive features of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
Close on your home quickly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can 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 aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, seeking 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.