Why you should hire an appraiserThousands of people in Indiana buy, sell or refinance their home each year. A lot of these transactions include a simple line item for an appraisal. Most lenders still call in a local expert because the stakes are so high, even though there are a budding number of automated home valuation methods that may appear more prudent than an appraisal. But is obtaining a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional could be beneficial? Of course there are.
Let Smith & Connerley help you challenge your tax assessment in Johnson CountyIt's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your home, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from Smith & Connerley is your best evidence. At Smith & Connerley, we're qualified to assist you in appealing your tax assessment.
Smith & Connerley can help you do away with PMI to lower your mortgage paymentWhen the amount being loaned to the home owner is more than 80% of the actual value of the home, most lenders ask homebuyers to purchase an supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI installments on most mortgages when the balance is paid down to 78% of the original value.
Smith & Connerley will provide you with a statement regarding the value of your home, and the expense of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce is often complicated by the strenuous decision of who gets the house, and it can be an especially traumatic experience for both parties. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Smith & Connerley, regardless of the situation.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidationThe 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 Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the correct value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Smith & Connerley can assist you in relocating to or from Johnson CountyWe understand the stress associated with an employee relocation. We take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough process, we encourage relocating employees to provide feedback on the positive attributes of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Don't sell out short or let your home stay on the market too long.A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, which is different than the interest of real estate agents. Our fees aren't contingent upon the value we come up with, but rather they are based on our efforts to complete the appraisal.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long properties are on the market. So, obtaining 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 for an extended amount of time.