Reasons to order an appraisal from JML Appraisal Services
Each year, thousands of people in Minnesota buy, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. And while there are a developing number of automated home valuation systems that may appear to be less expensive than an appraisal, practically all lenders still call in a local expert because the stakes are so high. You might think that getting a mortgage is the only reason to get an appraisal, but there are more cases when the services of a licensed, independent real estate professional could come in handy.
Contest your tax assessment
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 JML Appraisal Services is your best evidence when building your case. We can assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, most lenders ask buyers to take out this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is bundled into the monthly mortgage payment and is soon forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented 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.
JML Appraisal Services can produce a statement regarding the value of your home, and the expense of the appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.
Get your appraisal from JML Appraisal ServicesOrder today
Divorce settlement with less stress
A divorce is often complicated by the burdensome decision of who maintains the home, and it can be an especially horrible event for both parties. It's a good idea to get an appraisal from JML Appraisal Services so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
Losing a loved one is a painful time in life, and settling an estate from a death, or probate, often requires 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.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Scott County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Unlike 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 calculated on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, seeking 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.