Getting an appraisal from Illinois Valuation CenterTo a lot of us, an appraisal just looks like one more thing in the long list of items for a mortgage or refinance. Almost all lenders still want a local expert because the stakes are very high, even though there are an increasing number of automated home valuation processes that might seem less expensive than an appraisal. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are more cases when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment in your CountyIf you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from the Illinois Valuation Center is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
PMI removal will lower your mortgage paymentWhen the amount being loaned to the homebuyer is more than 80% of the actual value of the home, many lenders ask homebuyers to buy an extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped 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 - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
The Illinois Valuation Center 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.
An appraisal from the Illinois Valuation Center will help you settle a divorce with less stressA divorce can be an especially traumatic experience for both parties, and it is often even more complicated by the hard decision of who maintains the home. It's a good idea to order an appraisal from Illinois Valuation Center so both parties are entirely 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 clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Trustworthy estate liquidationThe loss 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 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 maximum degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these matters. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
RelocatingEmployee relocation can be a more than just an inconvenience, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our detailed process.
Let the Illinois Valuation Center help you sell your home quickly at the right priceWhether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. With much different interests than a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long houses are 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.