Reasons to hire an appraiser
Year after year, thousands of people in Ohio purchase, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. Practically all lenders still call in a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation processes that may appear more prudent than an appraisal. You might believe that getting a mortgage is the only reason to get an appraisal, but there are additional instances when the services of a licensed, independent real estate professional might be beneficial.
Contest your tax assessment in Cuyahoga, Geauga, and Lake County
If you are in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the buyer is more than 80% of the actual value of the home, many lenders ask homebuyers to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Professional Appraisals, Inc. can provide you with a statement regarding the value of your home. The price you paid for the appraisal can often 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 an especially horrible ordeal for the parties involved, and it is often further complicated by the burdensome decision of who gets the house. It's a good idea to order an appraisal from Professional Appraisals, Inc. so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
The parties will have a clearer picture 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.
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 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, ensuring the utmost 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 an unequal share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Cuyahoga, Geauga or Lake County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered.
Sell your home quickly — at an accurate price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees depend 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 extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homes stay 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.