Reasons to order an appraisal from Dudas & Associates, Inc
Year after year, thousands of people in Ohio buy, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. And while there are an increasing number of automated home valuation processes that might seem more economical than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. Is securing a mortgage the only reason to get an appraisal? Are there more cases when the services of a licensed, independent real estate professional might come in handy? Of course.
Appeal your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a previous assessment of your home, so if prices have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from Dudas & Associates, Inc is your best evidence when building your case. At Dudas & Associates, Inc, we're qualified to assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Dudas & Associates, Inc will provide you with a statement regarding the value of your home, and the expense of the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the challenging decision of who gets the home, and it can be a very horrible ordeal for both parties. 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 home, regardless of the circumstances.
If the parties wish 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 received a fair evaluation.
Determine 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 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).
Most Americans don't have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. 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 vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Summit County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide input on the positive characteristics of their property, as well as information regarding any recent sales or listings in their area that they want considered.
Sell your home quickly — for the right price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a reliable 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, because we're experts in knowing how long houses are one the market.