Reasons to get an appraisal from Dudas & Associates, Inc
Each year, thousands of people in Ohio buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are so high, even though there are a developing number of automated home valuation systems that might seem less expensive than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there additional cases when the services of a certified, independent real estate professional might be beneficial? You bet there are.
Dispute your tax assessment in Summit County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your home, so if values have gone down 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.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask home owners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Very often, this added payment is lumped into the monthly mortgage payment and is soon 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 unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Dudas & Associates, Inc can give you a statement regarding the value of your home. The expense of the appraisal can often be recovered in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be an especially traumatic ordeal for both parties, and it is often even more complicated by the burdensome decision of who keeps the home. Regardless of the circumstances, it's a good idea to order an appraisal from Dudas & Associates, Inc so both parties are completely aware of the true market value of their house.
If the parties need 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.
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 entails 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, guaranteeing the fullest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Summit County for work
Employee relocation is 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 characteristics of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
Whether you choose 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 when determining your asking price. An appraiser has no vested interest in what amount 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.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a trusted way to determine 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.