Let JML Appraisal Services attend to your appraisal needs
To a lot of us, an appraisal is simply another cost in the long list of items for a home purchase or refinance. While there are a growing number of automated home valuation systems that may seem more prudent than an appraisal, practically all lenders still call in a local expert because the stakes are very high. You might think that securing a mortgage is the only basis for getting an appraisal, but there are more instances when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment
If you reside in an area where property values have declined, 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 capable of assisting you in appealing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask home buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. More often than not, this added payment is lumped into the monthly mortgage payment and is quickly 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 - decreases below the 80% mark. 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.
JML Appraisal Services can provide you with a statement regarding the value of your home, and the cost of the home valuation can usually be offset in little 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 can be a particularly horrible ordeal for both parties, and it is often even more complicated by the troublesome decision of who gets the home. Regardless of the situation, it's a good idea to order an appraisal from JML Appraisal Services so both parties are entirely aware of the true market value of their house.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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, guaranteeing the highest degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And since 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 significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Scott County for work
We know the headaches associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide remarks on the positive features of their property, as well as information about any recent sales or listings in their area that they want considered.
Close on your home promptly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding 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 related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to determine what improvements will add value and what a suitable 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 properties are one the market.