Why you should hire an appraiser

Thousands of people in Minnesota buy, sell or refinance their home every month. Many of these transactions consist of a simple line item for an appraisal. Even though there are a budding number of automated home valuation systems that might appear to be less expensive than an appraisal, practically all lenders still call for a local expert because the stakes are very high. Is obtaining 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 beneficial? You bet there are.

Let JML Appraisal Services assist you in lowering your mortgage payment

Contest your tax assessment in Scott County

It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from JML Appraisal Services is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.

Eliminate PMI to lower your mortgage payment

When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, many lenders ask homebuyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

JML Appraisal Services can provide you with a statement regarding the value of your home, and the price you paid for the appraisal can generally be regained in just a few months because you'll no longer be paying the PMI.

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Divorce settlement with fewer hang-ups

A divorce is a particularly traumatic ordeal for the parties involved, and it is often even more complicated by the challenging decision of who gets 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 property.

If the parties need to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.

Ascertain a fair and accurate valuation for estate liquidation

The loss of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.

Unlike wealthier 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 value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Relocate to or from Scott County for work

Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, along with information about any new sales or listings in their neighborhood that they want considered during our intensive inspection.

Close on your home quickly — at 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 more informed decision regarding 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 housesstay on the market. So, seeking a professional appraisal is a trusted way to determine 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.

Let JML Appraisal Services help you sell your home quickly at the right price