Tim Norris & Associates

read moreIt doesn't matter what type of property is in question. Our knowledge of local neighborhoods and hours of study as licensed appraisers make us qualified to provide home valuations in Allen County for clients ranging from national mortgage companies to local lenders or individual businesses and consumers.

read moreIt's typically known that a 20% down payment is the standard when purchasing a home. Considering the risk for the lender is generally only the remainder between the home value and the sum due on the loan, the 20% provides a nice buffer against the expenses of foreclosure, reselling the home, and natural value fluctuationson the chance that a purchaser doesn't pay. Banks were working with down payments as low as 10, 5 and even 0 percent during the mortgage boom of the mid 2000s. A lender is able to handle the increased risk of the minimal down payment with Private Mortgage Insurance or PMI.

read moreTo many, an appraisal is simply a line item in the long list of items for a home purchase or refinance. Practically all lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that might appear more practical than an appraisal. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are more times when the services of a licensed, independent real estate professional could come in handy.

read moreAcquiring a home can be the biggest financial decision most might ever make. It doesn't matter if a primary residence, an additional vacation home or an investment, the purchase of real property is a detailed transaction that requires multiple people working in concert to see it through. Practically all the participants are very familiar. The most familiar entity in the exchange is the real estate agent. Then, the mortgage company provides the money required to fund the exchange. And ensuring all requirements of the transaction are completed and that the title is clear to transfer from the seller to the purchaser is the title company.

read moreNowadays it's not uncommon to buy just about everything from the Web, and our website is no exception. At Tim Norris & Associates we're always ready to take your appraisal request on the phone or even a fax machine. But did you know that placing your order online is advantageous for us both? Previously we would have to retype all the property and assignment information from your order. Currently by ordering online we can easily import the property details into our report preparation software. When you order an appraisal electronically with Tim Norris & Associates, you also get status updates on the report whenever you want them, around the clock - no more playing phone tag.

read moreWhen you're considering investing in rehabilitated residential property, you're making a smart choice. Real estate values have been climbing at the same time demand for homes has been increasing - an impressive combination. Often, people and companies that sell rehabilitated real estate buy a dilapidated property, put a lot of money and sweat equity into it to make it attractive to a buyer, and then reap the reward when the property is sold for a lot more than the original buyer paid for it. There's nothing wrong with this; on the contrary, it makes more housing available at a time when it's in demand.

read moreWe understand that divorce is a painful process. There are countless choices to worry about, including what to do with the home. There are generally two choices when it comes to the shared residence - it can be put up for sale and the proceeds split, or one party can "buy out" the other. In either case, one or both parties would be wise to commission an appraisal of the joint real estate. A divorce appraisal should include a well-established, expert document that can be supported during a trial.

read moreLegally, an appraiser is required to be state certified to create substantiated appraisal reports for federally-backed transactions. You have the ability to request a copy of the finished report from your lending agency. Contact our professional staff if you have any concerns about the appraisal procedure. Fact: It is probable that Indiana, like most states, supports the suggestion that the assessed value equates to the market value; however, this certainly varies based on state-to-state. There are times when interior remodeling has been done and the assessor is not aware of the improvement or properties in the Huntertown have not been reassessed for quite some time, it may vary wildly.