Why you should order an appraisal
Year after year, thousands of people in Ohio buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. The majority of lenders still want a local expert because the stakes are very high, even though there are a budding number of automated home valuation processes that might appear less expensive than an appraisal. You might assume that getting a mortgage is the only reason to acquire an appraisal, but there are more times when the services of a certified, independent real estate professional could be beneficial.
Contest your tax assessment in Summit County
It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your home, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the real estate, many lenders ask home buyers to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Most often, this additional payment is bundled into the monthly mortgage payment and is soon forgotten. This is bad because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with 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 just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is a very traumatic experience for the parties involved, and it is often further complicated by the troublesome decision of who gets the house. Regardless of the circumstances, it's a good idea to get an appraisal from Dudas & Associates, Inc so both parties are fully aware of the true market value of their home.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We ensure the utmost 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 do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Summit County for work
We are familiar with the stress associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — at the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare 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.