Why you should get an appraisal
Thousands of people in Ohio buy, sell or refinance their home each year. Most of these transactions contain a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that may seem more cost-effective than an appraisal. Is getting a mortgage the only basis for getting an appraisal? Are there more situations when the services of a certified, independent real estate professional could be helpful? Of course.
Challenge your tax assessment
If you reside in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Kinnaird Appraisal is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.
Get rid of 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 home owners to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Kinnaird Appraisal will provide you with a statement regarding the value of your home, and the price you paid for the appraisal can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a very traumatic event for the parties involved, and it is often further complicated by the difficult decision of who gets the house. It's a good idea to get an appraisal from Kinnaird Appraisal so both parties are completely aware of the true market value of their home, regardless of the situation.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of 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. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these matters. A home or other property often makes up an uneven 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 leave knowing they've received an honest deal.
Move to or from Montgomery County through an employee relocation program
We understand the stress associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Sell your home promptly — at an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, seeking a professional appraisal is a reliable 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.