Klopp & Associates in Richfield do appraisals for a variety of purposes

Every year, thousands of people in Minnesota buy, sell or refinance their home. Most of these transactions contain a simple line item for an appraisal. And while there are a budding number of automated home valuation processes that may appear more cost-effective than an appraisal, practically all lenders still call in a local expert because the stakes are so high. But is securing a mortgage the only reason to acquire an appraisal? Are there more situations when the services of a certified, independent real estate professional could be helpful? Of course.


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Dispute your tax assessment in Hennepin County

It's quite possible 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 past assessment of your real estate, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Klopp & Associates is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.

Let Klopp & Associates help you lower your mortgage payment

Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask home owners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This additional payment is often lumped into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the leftover 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 approved by the United States Congress requiring lenders to remove the PMI payments when the balance is paid down to 78% of the original value.

Klopp & Associates will provide you with a statement regarding the value of your home, and the cost of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.

An appraisal from Klopp & Associates will help you settle a divorce with less stress

A divorce is often complicated by the troublesome decision of who gets the house, and it can be an especially traumatic event for both parties. Regardless of the situation, it's wise to order an appraisal from Klopp & Associates so both parties are completely aware of the true market value of their home.

If the parties want to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.

Accurate and fair estate liquidation

Losing a loved one is a painful 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, guaranteeing the maximum degree of discretion.

Most Americans do not have dedicated estate planners or executors to take care of these affairs, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Klopp & Associates can assist you in relocating to or from Hennepin County

We understand the stress involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information about any recent sales or listings in their area that they want considered during our thorough process.

Sell your home quickly at the right price with an appraisal from Klopp & Associates

Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. The price we charge isn't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal.

On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long houses stay on the market. So, seeking a professional appraisal is a trusted way to determine 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.