Comprehensive Real Estate Appraisal & Valuation Services in South Central Wisconsin
Homeowners
Selling
If you’re selling your home, you want to get a fair price for the property, and you also want the house to sell as quickly as possible. If your asking price is too low, you lose equity in the sale. If your asking price is too high, your listing may sit on the market for months or years with no buyer interest. So, how does a homeowner know what price to ask? An appraisal of the property is the best, most objective, and most accurate estimate of value, and it provides the information a seller needs to list and sell a home effectively.
Why not ask a Realtor?
Appraisers, unlike Realtors, do not have a vested interest in the home's selling price. Also, an appraiser has specific training that a realtor does not, which allows an appraiser to determine an objective value methodically. Appraisers can also help you decide which home improvements and upgrades will add the most value to your home.
Buying
As a buyer, you wish to get the most value possible for your home purchase. Sellers sometimes overestimate a home's value due to emotional attachment. The appraiser will determine the most objective value of a property, giving the buyer the information necessary to negotiate a fair price.
PMI Removal
Private Mortgage Insurance, or PMI, is the supplemental insurance many lenders ask homeowners to purchase when the loan amount exceeds 80% of the home's value. Very often, this additional payment is folded into the monthly mortgage payment. Many homeowners are unaware or forget about the PMI payments and don't realize that federal law requires that lenders, upon request, must remove PMI once the remaining balance of the loan – whether through market appreciation or principal pay down – falls below the 80% mark and the loan-to-value ratio conditions have been met. Appraisers can offer a specific service to help homeowners determine if PMI can be removed.
Tax Appeal
If your property taxes are too high because your home is overvalued, an appraisal may help you dispute your assessment and lower your taxes. Your local taxing authority can provide you with instructions for filing an appeal.
Attorneys
Divorce
A divorce can be a particularly traumatic experience for both parties and is often further complicated by trying to determine the division of property regarding the real estate. Whether the court decides to award the property to one party or orders the sale of the property and division of the proceeds, the best way to ensure that both parties are fully aware of the actual market value is to order an appraisal. If the parties choose to sell the property, they will have a better idea of what price to set, and if a buyout is the preferred option, both parties will feel like they have been relatively informed. Our appraisers will provide expert witness testimony in court relating to the appraisal if necessary.
Estates
Losing a loved one is complex, and settling an estate from a death often requires an appraisal to establish Fair Market Value for the real estate involved. Typically, appraisals must be done as a retrospective value as of the “date of death” for probate, but may also be done as a “current value” to sell the property or divide among heirs. Our appraisers have expertise in both types of valuations.
Bankruptcies
No one expects to file bankruptcy, but if and when it becomes necessary, appraisals of all real estate owned will likely be required and may be ordered by the court. Our appraisers have experience with these types of appraisals and can provide court testimony if necessary.
Short Sales
Occasionally, lenders will allow homeowners who have become delinquent on a mortgage to avoid foreclosure by allowing a “short sale” or a sale of a property at a price lower than the mortgage balance. An appraisal is often required by the lender to approve the sale.
Lenders
Experienced Appraisers
Our appraisers have more than 45 years of combined experience in a wide variety of valuation disciplines. We have expertise in single-family; 2-4-units; single-family rentals; multi-unit apartment buildings; condominiums; waterfront; manufactured homes; high value (jumbo) properties; specialty properties such as dome homes, earth sheltered, green built; farms and agricultural acreage; relocation; REOs; USDA; FHA. Two of our appraisers are Certified Residential; two are Licensed. Our coverage area expands over five counties in South Central Wisconsin (Rock, Green, Dane, Jefferson, and Walworth).
Investors
Rental Property Appraisals
Whether you are new to investing or own multiple rental properties, you will likely need appraisals on your properties when buying, selling, refinancing, or just for asset valuation. Our appraisers have extensive experience valuing single-family rentals, 2-4 units, multiple-unit complexes, and mixed-use properties (commercial/residential combo). We can provide rent research, analysis, and before and after values for “fix and flip” properties.
Realtors
Pre-Listing Appraisals
If you have done a BPO or other market analysis for your seller, but your seller still thinks the property is worth significantly more, it may be prudent to have the seller get an appraisal to bring them back to reality. An assessment will give the seller a better idea of the price range a buyer’s lender will likely accept. It may also be a helpful marketing tool if the value is higher than the seller expected. A pre-listing appraisal may also reveal issues that could be a disqualification for government-backed financing, such as FHA, USDA, or VA, that sellers may want to correct before listing.
We also provide floor plan measurements based on ANSI rules so that all parties know how appraisers calculate above- and below-grade living areas and that no one is upset when an appraisal comes back that is different than assessor records or seller estimate of size.
Other Services
Specialized Appraisers
We have appraisers who specialize in VACANT AGRICULTURAL LAND in south central Wisconsin. We also provide ASSET VALUATION for trusts, life estates, or when owners enter nursing homes. If a full appraisal is not required, we provide CONSULTATION in various capacities, whether you are planning to purchase, build, remodel, convert a property to a different purpose, rezone, sell off land, etc.