Reasons to get an appraisal

Thousands of people in Illinois purchase, sell or refinance their home each month. Most of these transactions include a simple line item for an appraisal. While there are a multiplying number of automated home valuation processes that might appear more prudent than an appraisal, the majority of lenders still want a local expert because the stakes are very high. But is securing a mortgage the only reason to get an appraisal? Are there other times when the services of a licensed, independent real estate professional might come in handy? Of course there are.

If you're planning on any transaction where the value of your house is a factor, contact James E. Batis & Associates. Just click here.

Let James E. Batis & Associates help you appeal your tax assessment in Will County

It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your house, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from James E. Batis & Associates is your best evidence. At James E. Batis & Associates,we can assist you in challenging your tax assessment.

How can you get rid of PMI to lower your mortgage payment?

Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Most often, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) 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 do away with PMI, James E. Batis & Associates can provide you with a statement regarding the value of your home. The price you paid for the home valuation can usually be regained in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is an especially traumatic ordeal for the parties involved, and it is often more complicated by the hard 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 order an appraisal from James E. Batis & Associates, regardless of the situation.

If the parties need to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.

Trustworthy estate liquidation

Losing 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. We ensure the maximum 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 take care of these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the precise value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.

Let James E. Batis & Associates help you with relocating to or from Will County

Employee relocation can be a more than just an inconvenience. We know where you're coming from. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough process.

Sell your home quickly 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 better educated decision regarding your selling price. With much different interests than a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are derived from our efforts to finish the appraisal report and and aren't related to the sales price.

On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long houses are on the market. So, getting a professional appraisal is a reliable 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 too long, costing you hassle and money.