Reasons to order an appraisal from Greater Midwest Appraisals, LLCEvery year, thousands of people in Illinois buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. And while there are a developing number of automated home valuation methods that may appear to be cheaper than an appraisal, almost all lenders still need a local expert because the stakes are incredibly high. But is obtaining a mortgage the only reason to acquire an appraisal? Are there more times when the services of a licensed, independent real estate professional might come in handy? Absolutely.
Let Greater Midwest Appraisals, LLC help you challenge your tax assessment in La Salle CountyIt's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a previous assessment of your real estate, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from Greater Midwest Appraisals, LLC is your best evidence when building your case. At Greater Midwest Appraisals, LLC, we're equipped to assist you in appealing your tax assessment.
Greater Midwest Appraisals, LLC can help you do away with PMI to lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an extra insurance plan that many lenders ask homebuyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the property. This extra payment is often lumped into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI installments when the balance is paid down to 78% of the original value.
Greater Midwest Appraisals, LLC can provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce can be a particularly traumatic ordeal for both parties, and it is often further complicated by the strenuous decision of who keeps the home. Regardless of the circumstances, it's wise to order an appraisal from Greater Midwest Appraisals, LLC so both parties are fully aware of the true market value of their house.
If the parties want to sell the home, they'll have a a good idea 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.
Settling an estate with peace of mindThe death of 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 Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. A home or other property often makes up an unequal 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 walk away knowing they've received an honest deal.
Let Greater Midwest Appraisals, LLC help you with relocating to or from La Salle CountyMoving due to a job change can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive process, we suggest employees that are moving to provide input on the positive characteristics of their property, as well as information regarding any new sales or listings in their area that they want considered.
Selling your home quickly at the right price with an appraisal from Greater Midwest Appraisals, LLCWhether 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 when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. The price we charge isn't related to the sales price, but rather they depend on our efforts to finish the appraisal.
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 properties stay on the market. So, seeking a professional appraisal is a trusted way to determine 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.