FREQUENTLY ASKED QUESTIONS
WHY WOULD I ORDER AN APPRAISAL FOR THE PURPOSE OF A TAX APPEAL?
If your County Auditor has appraised your property for more than you think it's actually worth, you can appeal that value. County Auditors are required by the state of Ohio to review values every three years, often property taxes increase as a result. You may have a chance to appeal on an informal basis, or you can file a Board of Revision complaint. The best evidence you can present is an appraisal.
WHY WOULD I ORDER A PRE-LISTING APPRAISAL?
When trying to determine the proper asking price upon selling your home. This might be most applicable in fluctuating markets or with complex properties. Buyers can also utilize an appraisal to determine how much to offer on a property that's for sale. An appraisal is very useful (buyer or seller) in a For Sale By Owner negotiation.
WHY WOULD I ORDER AN APPRAISAL TO REMOVE PMI?
PMI, or Private Mortgage Insurance, is often included in a mortgage. It is when your particular lender has determined that you've borrowed more than a certain percentage (usually 80%). After some time however, especially during an inclining market, your balance with your lender could become less than the determined percentage. Often lenders will accept a recent appraisal as legitimate evidence and remove the PMI resulting in a lower mortgage payment.
HOW LONG WILL IT TAKE TO RECEIVE A COMPLETED APPRAISAL?
Every situation is different. A pre-listing appraisal has much more urgency than one for a tax appeal (those are usually retrospective). Every attempt will be made to accommodate my clients in a timely manner, while also providing education and consultation.