Reasons to order an appraisal from Dudas & Associates, Inc
To many, an appraisal is simply another cost in the long list of items for a home purchase or refinance. Practically all lenders still need a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation systems that may appear to be less expensive than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there also instances when the services of a certified, independent real estate professional could be beneficial? Absolutely.
Challenge your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your house, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the property, almost all lenders ask home owners to buy this added 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. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. 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.
If you'd like to eliminate PMI, Dudas & Associates, Inc can provide you with a statement regarding the value of your home. The price you paid for the home valuation can often be regained in a short amount of 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 challenging decision of who gets the home, and it can be an especially daunting ordeal for both parties. It's a good idea to order an appraisal from Dudas & Associates, Inc so both parties are fully aware of the true market value of their property, regardless of the circumstances.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine 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 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 fullest degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. 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 Summit County through an employee relocation program
We understand the stress associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — at an accurate price
A professional appraisal can 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 a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time, because we're experts in knowing how long homes are one the market.