Why get an appraisal from Mid-State Appraisal Group, LLC?

Each year, thousands of people in Connecticut buy, sell or refinance their home. Many of these transactions include a simple line item for an appraisal. Even though there are a budding number of automated home valuation methods that may appear to be more practical than an appraisal, almost all lenders still need a local expert because the stakes are very high. You might assume that getting a mortgage is the only reason you should get an appraisal, but there are more cases when the services of a licensed, independent real estate professional could be beneficial.


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Let Mid-State Appraisal Group, LLC help you challenge your tax assessment in New Haven County

It's likely you're paying too much in property taxes if you reside in an area where property values have declined. 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 appeal your assessment and save money. When building your case, an appraisal from Mid-State Appraisal Group, LLC is your best evidence. We're qualified to assist you in disputing your tax assessment.

Removing PMI will lower your mortgage payment

When the amount being loaned to the home buyer is more than 80% of the actual value of the real estate, nearly all lenders ask buyers to take out an extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

Mid-State Appraisal Group, LLC can produce a statement regarding the value of your home, and the expense of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.

Divorce settlement with less stress

A divorce is an especially traumatic experience for the parties involved, and it is often even more complicated by the challenging decision of who maintains the home. Regardless of the situation, it's wise to get an appraisal from Mid-State Appraisal Group, LLC so both parties are fully aware of the true market value of their house.

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

Fair and accurate estate liquidation

Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires 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).

Most Americans do not have dedicated estate planners or executors to handle these issues, unlike wealthier individuals. 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 vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.

Let Mid-State Appraisal Group, LLC help you with relocating to or from New Haven County

We are familiar with the headaches involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive process, we encourage employees that are moving to provide remarks on the positive characteristics of their property, along with information about any current sales or listings in their area that they want considered.

Don't sell out for too little or let your home stay on the market too long.

Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't contingent upon the value opinion we render, but rather they are calculated on our efforts to finish the appraisal.

On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long properties are on the market. So, obtaining a professional appraisal is a trusted way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.