Reasons to order an appraisal

Thousands of people in Kansas purchase, sell or refinance their home each year. Many of these transactions have a simple line item for an appraisal. While there are an increasing number of automated home valuation systems that may seem more prudent than an appraisal, nearly all lenders still need a local expert because the stakes are incredibly high. But is getting a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional might be beneficial? Of course there are.


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Let Mark Cox Appraisals help you dispute your tax assessment in Johnson County

It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your house, 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 Mark Cox Appraisals is your best evidence. We're capable of assisting you in disputing your tax assessment.

How can you eliminate PMI to lower your mortgage payment?

When the amount being loaned to the home owner is more than 80% of the actual value of the property, nearly all lenders ask buyers to purchase an added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls 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 installments on most mortgages when the balance is paid down to 78% of the original value.

If you'd like to do away with PMI, Mark Cox Appraisals can produce a statement regarding the value of your home. The expense of the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is a particularly traumatic experience for the parties involved, and it is often more complicated by the strenuous decision of who keeps the property. Regardless of the situation, it's a good idea to get an appraisal from Mark Cox Appraisals so both parties are entirely aware of the true market value of their house.

The parties will have a better idea of what price to set, if they want 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.

Trustworthy estate liquidation

The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for 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, guaranteeing the highest degree of discretion.

Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the absolute value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocating to or from Johnson County?

We know the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive process, we encourage relocating employees to provide feedback on the positive attributes 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 Mark Cox Appraisals

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 regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't contingent upon the value we report, but rather they rest on our efforts to complete the appraisal.

We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long properties stay on the market. So, getting a professional appraisal is a reliable 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 for an extended amount of time.