Joseph A.Porter & Associates in Marengo do appraisals for diverse purposes

Thousands of people in Ohio buy, sell or refinance their home every month. Many of these transactions contain a simple line item for an appraisal. Most lenders still need a local expert because the stakes are so high, even though there are a budding number of automated home valuation systems that might appear more cost-effective than an appraisal. You might think that obtaining a mortgage is the only reason you should get an appraisal, but there are other instances when the services of a certified, independent real estate professional might be helpful.


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Challenge your tax assessment in Morrow County

It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your home, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from Joseph A.Porter & Associates is your best evidence when building your case. At Joseph A.Porter & Associates,we can assist you in disputing your tax assessment.

How can you do away with PMI to lower your mortgage payment?

Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. This added payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI payments when the balance is paid down to 78% of the original value.

Joseph A.Porter & Associates will provide you with a statement regarding the value of your home, and the price you paid for the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.

An appraisal from Joseph A.Porter & Associates will help you settle a divorce with less stress

A divorce is often complicated by the difficult decision of who keeps the house, and it can be a particularly heartbreaking event for both parties. So both parties are entirely aware of the true market value of their house, it's a good idea to order an appraisal from Joseph A.Porter & Associates, regardless of the circumstances.

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.

Settling an estate with peace of mind

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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.

Most Americans don't have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the precise value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.

Relocating to or from Morrow County

We know the stress involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough process, we recommend relocating employees to provide input on the positive aspects of their property, as well as information about any current sales or listings in their neighborhood that they want considered.

Sell your home quickly at the right price with an appraisal from Joseph A.Porter & Associates

A professional appraisal can help you make a better educated decision regarding your asking price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, which is different than the interest of real estate agents. Our fees are derived from our efforts to finish the appraisal report and not a percentage of the sales price.

On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homes stay on the market. So, seeking a professional appraisal is a reliable way to decide 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 for an extended amount of time.