6 Reasons to choose an appraisal from Advantage 1 Appraisals
To many, an appraisal is simply a line item in the long list of items for a home purchase or refinance. Even though there are a growing number of automated home valuation processes that might appear to be cheaper than an appraisal, practically all lenders still call for a local expert because the stakes are so high. Is getting a mortgage the only reason to get an appraisal? Are there more times when the services of a certified, independent real estate professional could be helpful? Of course.
Challenge your tax assessment in Dearborn County
It's quite 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 past assessment of your home, so if prices have gone down in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that nearly all lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Advantage 1 Appraisals will give you a statement regarding the value of your home. The expense of the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be a particularly daunting ordeal for both parties, and it is often further complicated by the troublesome decision of who gets the property. Regardless of the circumstances, it's a good idea to get an appraisal from Advantage 1 Appraisals so both parties are fully aware of the true market value of their house.
The parties will have a clearer picture of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a difficult 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.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthier individuals. 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 walk away knowing they've gotten a fair deal.
Relocate to or from Dearborn County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered during our detailed inspection.
Close on your home promptly — at an accurate price
A professional appraisal will help you make a more informed decision when determining your selling price, whether you want 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, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate 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 homes stay on the market.