Reasons to order an appraisal from Dudas & Associates, Inc
Each year, thousands of people in Ohio buy, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation systems that may appear to be more economical than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there other situations when the services of a licensed, independent real estate professional might be helpful? Of course there are.
Appeal your tax assessment in Summit County
If you are in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Dudas & Associates, Inc is your best evidence when building your case. At Dudas & Associates, Inc, we're qualified to assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, nearly all lenders ask buyers to take out this added insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this added payment is lumped into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Dudas & Associates, Inc will 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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Settle a divorce with less stress
A divorce is a very horrible event for the parties involved, and it is often further complicated by the difficult decision of who keeps the house. It's a good idea to get an appraisal from Dudas & Associates, Inc so both parties are completely aware of the true market value of their home, regardless of the circumstances.
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.
Accurate and fair estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these matters. 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 essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Summit County through an employee relocation program
We are aware of the headaches associated with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, along with information about any new sales or listings in their area that they want considered during our intensive inspection.
Sell your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. 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, because we're experts in knowing how long properties stay on the market.