Reasons to get an appraisal
Thousands of people in Ohio purchase, sell or refinance their home every month. A lot of these transactions consist of a simple line item for an appraisal. Even though there are an increasing number of automated home valuation systems that may seem cheaper than an appraisal, the majority of lenders still want a local expert because the stakes are incredibly high. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are other times when the services of a licensed, independent real estate professional could be helpful.
Appeal your tax assessment
If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, nearly all lenders ask homebuyers to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is lumped into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Dudas & Associates, Inc will provide you with a statement regarding the value of your home. The expense of the home valuation can usually 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 maintains the home, and it can be a very traumatic occurrence for both parties. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from Dudas & Associates, Inc, regardless of the circumstances.
The parties will have a better idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The death of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Summit County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, along with information regarding any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — for an accurate price
Whether you decide 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 selling price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long houses are one the market.