Reasons to choose an appraisal from DRB Appraisal
To many, an appraisal is simply one more thing in the long list of items for a mortgage or refinance. Nearly all lenders still need a local expert because the stakes are very high, even though there are an increasing number of automated home valuation processes that may appear more economical than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional could be helpful? Absolutely.
Dispute 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. An appraisal from DRB Appraisal is your best evidence when building your case. At DRB Appraisal, we're qualified to assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask buyers 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 folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, DRB Appraisal can produce a statement regarding the value of your home. The price you paid for the home valuation can usually be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the burdensome decision of who keeps the house, and it can be a very traumatic experience for both parties. So both parties are completely 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 a good idea of what price to set, if they wish 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 assessment.
Fair and accurate estate liquidation
Losing 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. 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 vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Blackford County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
A professional appraisal can help you make a more informed decision regarding your asking 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 amount 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 housesare on the market. So, getting a professional appraisal is a reliable 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.