Reasons to order an appraisal from DRB Appraisal
To many, an appraisal just looks like one more thing on the settlement sheet for a home sale or refinance. Almost all lenders still call in a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation systems that may seem less expensive than an appraisal. Is getting a mortgage the only reason to acquire an appraisal? Are there other cases when the services of a certified, independent real estate professional might be beneficial? Absolutely.
Contest your tax assessment
If you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At DRB Appraisal, we're capable of assisting you in challenging your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homeowners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. This extra payment is often folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress passed 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.
DRB Appraisal will give you a statement regarding the value of your home, and the expense of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is an especially horrible ordeal for the parties involved, and it is often even more complicated by the challenging decision of who maintains the home. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from DRB Appraisal, regardless of the circumstances.
The parties will have a better idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Blackford County through an employee relocation program
We know the stress associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home quickly — for the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to complete the appraisal report and and aren't related to 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 propertiesare on the market. So, getting a professional appraisal is a reliable way to determine what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.