6 Reasons to order an appraisal from JML Appraisal Services

Every year, thousands of people in Minnesota purchase, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. While there are a budding number of automated home valuation methods that might seem more economical than an appraisal, the majority of lenders still want a local expert because the stakes are very high. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are other times when the services of a licensed, independent real estate professional could come in handy.

Let JML Appraisal Services help you lower your mortgage payment

Appeal your tax assessment in Scott County

If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from JML Appraisal Services is your best evidence when building your case. We're qualified to assist you in disputing your tax assessment.

Eliminate PMI to lower your mortgage payment

When the amount being loaned to the homeowneris more than 80% of the actual value of the home, almost all lenders ask homebuyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, JML Appraisal Services will provide you with a statement regarding the value of your home. The price you paid for the appraisal can generally be offset in a short amount of time because you'll no longer be paying the PMI.

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Get a clear valuation on a home for divorce settlements

A divorce is an especially horrible event for the parties involved, and it is often further complicated by the troublesome decision of who maintains the property. It's a good idea to get an appraisal from JML Appraisal Services so both parties are fully aware of the true market value of their house, regardless of the situation.

The parties will have a better idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

Ascertain an accurate and fair valuation for 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 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 take care of these issues. And since 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 significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Relocate to or from Scott County through an employee relocation program

We are familiar with the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive aspects of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.

Close on your home quickly — at the right price

A professional appraisal can help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.

We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, 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.

Let JML Appraisal Services help you sell your home quickly at the right price