Reasons to order an appraisal
Thousands of people in Ohio purchase, sell or refinance their home every month. Most of these transactions involve a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are so high, even though there are a developing number of automated home valuation processes that might appear to be cheaper than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there more times when the services of a licensed, independent real estate professional might come in handy? Absolutely.
Challenge your tax assessment in Fairfield County
If you reside in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Certified Residential Inc is your best evidence when building your case. 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 property, most lenders ask homeowners to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Certified Residential Inc can produce a statement regarding the value of your home. The price you paid for the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially traumatic event for both parties, and it is often even more complicated by the strenuous decision of who keeps the house. It's a good idea to order an appraisal from Certified Residential Inc so both parties are fully aware of the true market value of their house, regardless of the circumstances.
The parties will have a clearer picture 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 received a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the highest 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 handle these issues. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Fairfield County for work
We understand the stress associated with an employee relocation. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information about any new sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — at the right price
A professional appraisal will help you make a better educated decision regarding your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide 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 stay on the market.