Why you should hire an appraiser
Every year, thousands of people in Ohio buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation methods that may seem more practical than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there additional cases when the services of a licensed, independent real estate professional might come in handy? Of course there are.
Appeal your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your house, so if values have gone down in your area, you can appeal your assessment and save money. An appraisal from Dudas & Associates, Inc is your best evidence when building your case. We can assist you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, many lenders ask home buyers to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. 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 do away with PMI, Dudas & Associates, Inc can provide you with a statement regarding the value of your home. The expense of the home valuation can usually be regained in just a few months because you'll no longer be paying the PMI.
Order an appraisal from Dudas & Associates, IncOrder online
Settle a divorce with fewer hang-ups
A divorce is a particularly horrible ordeal for the parties involved, and it is often even more complicated by the troublesome decision of who gets the property. It's a good idea to get an appraisal from Dudas & Associates, Inc so both parties are entirely aware of the true market value of their home, regardless of the circumstances.
The parties will have a better 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 received a fair assessment.
Determine a fair and accurate valuation for estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding 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.
Relocate to or from Summit County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide remarks on the positive features of their property, along with information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — at the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling 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. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a reliable 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.