Why you should get an appraisal from JML Appraisal Services

Thousands of people in Minnesota buy, sell or refinance their home each year. A lot of these transactions include a simple line item for an appraisal. Nearly all lenders still want a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that may appear more practical than an appraisal. You might believe that securing a mortgage is the only reason to get an appraisal, but there are more times when the services of a certified, independent real estate professional could come in handy.

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Challenge 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.

Eliminate PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask home buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, JML Appraisal Services can provide you with a statement regarding the value of your home. The price you paid for the appraisal can generally be offset in just a few months 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 a particularly horrible experience for the parties involved, and it is often more complicated by the difficult decision of who gets the house. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from JML Appraisal Services, regardless of the situation.

If the parties need 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 gotten a fair assessment.

Determine an accurate and fair valuation for estate liquidation

Losing 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 real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many 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 received a fair deal.

Move to or from Scott County for work

We are aware of the headaches involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any current sales or listings in their area that they want considered during our intensive inspection.

Close on your home promptly — at the right price

A professional appraisal will help you make a more informed decision when determining your asking 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, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.

We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking 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 homes stay on the market.

Let JML Appraisal Services assist you in selling your home quickly at the right price