Reasons to hire an appraiser
Thousands of people in Minnesota buy, sell or refinance their home every month. Most of these transactions contain a simple line item for an appraisal. While there are a growing number of automated home valuation methods that may appear to be cheaper than an appraisal, nearly all lenders still call for a local expert because the stakes are very high. You might think that securing a mortgage is the only basis for getting an appraisal, but there are other situations when the services of a licensed, independent real estate professional could come in handy.
Appeal your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your real estate, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask homeowners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Davis & Lagerman, LLC can provide you with a statement regarding the value of your home. The expense of the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
Get your appraisal from Davis & Lagerman, LLCOrder today
Get a clear valuation on a home for divorce settlements
A divorce is a very daunting event for the parties involved, and it is often more complicated by the strenuous decision of who maintains the home. So both parties are fully aware of the true market value of their home, it's a good idea to get an appraisal from Davis & Lagerman, LLC, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. 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 ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Ramsey County for work
Employee relocation is a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home quickly — for the right price
Whether 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 regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable 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, because we're experts in knowing how long houses are one the market.