6 Reasons to consider an appraisal from Tim Norris & Associates

Thousands of people in Indiana buy, sell or refinance their home every year. Many of these transactions contain a simple line item for an appraisal. And even though there are a growing number of automated home valuation systems that might appear less expensive than an appraisal, nearly all lenders still want a local expert because the stakes are so high. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are more instances when the services of a certified, independent real estate professional might come in handy.

Let Tim Norris & Associates assist you in lowering your mortgage payment

Appeal your tax assessment in Allen County

If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Tim Norris & Associates is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.

Eliminating PMI for mortgage payments

When the amount being loaned to the buyeris more than 80% of the actual value of the property, almost all lenders ask home buyers to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.

Tim Norris & Associates will give you a statement regarding the value of your home, and the price you paid for the appraisal can often be regained in a short amount of time because you'll no longer be paying the PMI.

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Get a fair valuation on a home take make a divorce settlement less stressful

A divorce can be an especially daunting ordeal for both parties, and it is often more complicated by the challenging decision of who maintains the house. It's a good idea to get an appraisal from Tim Norris & Associates so both parties are completely aware of the true market value of their property, regardless of the situation.

The parties will have a better idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Accurate and fair estate liquidation

The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. A home or other property often makes up a disproportionate 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 gotten a fair deal.

Move to or from Allen County for work

Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive attributes of their property, along with information about any current sales or listings in their neighborhood that they want considered.

Close on your home promptly — at the right price

Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.

We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long properties stay on the market.

Let Tim Norris & Associates help you sell your home quickly at the right price