Reasons to consider an appraisal from JML Appraisal Services
To a lot of people, an appraisal just looks like another fee on the settlement sheet for a home sale or refinance. Even though there are a developing number of automated home valuation processes that might seem more prudent than an appraisal, nearly all lenders still need a local expert because the stakes are so high. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are other cases when the services of a licensed, independent real estate professional could come in handy.
Appeal your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a previous assessment of your real estate, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from JML Appraisal Services is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, most lenders ask home buyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, JML Appraisal Services will give you a statement regarding the value of your home. The price you paid for 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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Divorce settlement with less stress
A divorce can be an especially daunting event for both parties, and it is often more complicated by the difficult decision of who keeps the property. Regardless of the circumstances, it's a good idea to get an appraisal from JML Appraisal Services so both parties are entirely aware of the true market value of their house.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful 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 fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Scott County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide input on the positive aspects of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home quickly — for the right price
A professional appraisal can help you make a more informed decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a trusted 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.