Reasons to order an appraisal

Year after year, thousands of people in Indiana purchase, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. While there are a growing number of automated home valuation methods that may appear more economical than an appraisal, almost all lenders still call in a local expert because the stakes are so high. But is getting a mortgage the only reason you should get an appraisal? Are there also times when the services of a certified, independent real estate professional might come in handy? Of course there are.


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Let South Meridian Properties (317) 509-6137 help you challenge your tax assessment in Marion County

If you live in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from South Meridian Properties (317) 509-6137 is your best evidence. We're qualified to assist you in appealing your tax assessment.

Removing PMI will lower your mortgage payment

Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask buyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. Very often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

South Meridian Properties (317) 509-6137 can produce a statement regarding the value of your home, and the price you paid for the home valuation can generally be regained in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress with an appraisal from South Meridian Properties (317) 509-6137

A divorce can be an especially traumatic experience for both parties, and it is often even more complicated by the difficult decision of who maintains the home. It's a good idea to order an appraisal from South Meridian Properties (317) 509-6137 so both parties are completely aware of the true market value of their home, regardless of the situation.

If the parties wish to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

Accurate and fair estate liquidation

The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these issues. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the absolute value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.

Relocating to or from Marion County

Employee relocation is a real pain. We know where you're coming from. We take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough process, we encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.

Don't sell out for too little or let your home stay on the market too long.

Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't contingent upon the value opinion we render, but rather they rest on our efforts to complete the appraisal.

We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long properties stay on the market. So, obtaining a professional appraisal is a trusted 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.