Midwest Valuation

read moreWe are the leading provider of property valuation in the real estate mortgage industry - specializing in residential property. No property is too small or too intricate. We promise hard work, an ethical approach, resulting in a valuation you can count on.

read moreIf you're going to sell your home, you should seriously consider a professional appraisal. Don't think of a professional appraisal as costing money; it's worth the money in the long run! Unless a homeowner studies real estate values on a day to day basis, like a professional appraiser does, it's hard for them to get a handle on local real estate values. We are not talking about how much you've spent buying and improving your home, or the amount you need to get for it. Instead, a appraisal provides a professional opinion on how much your home will bring on the open market.

read moreGetting real estate is the most important financial decision most of us might ever consider. Whether it's where you raise your family, a second vacation home or one of many rentals, purchasing real property is a detailed transaction that requires multiple people working in concert to make it all happen. The majority of the participants are quite familiar. The most familiar face in the transaction is the real estate agent. Then, the bank provides the financial capital required to fund the transaction.

read moreWhen interviewing a home inspector, ask the inspector what type of report format he or she provides. There are many styles of reports used by property inspectors, including the checklist, computer generated using inspection programs, and the narrative style. The most important issue with an inspection report is the descriptions given for each item or component. A report that indicates the condition as "Good", "Fair" or "Poor" without a detailed explanation is vague and can be easily misinterpreted.

read moreHave you heard an appraiser use any of these terms? Did you just hear one of our appraisers use it and you came here to figure out what it meant? We don't mean to speak a foreign language, but any profession has its jargon. What res ipsa loquitur is to a lawyer and triple witching is to day traders, external obsolescence is to appraisers. On this page, we'll give some examples of common appraiser jargon and their meanings. When comparable properties have been identified, the appraiser makes adjustments to the Sales Price of each of the comparables to bring them into equivalency with the subject property, accounting for differences in location, construction quality, living area, acreage, frontage, amenities and the like.

read moreAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations. We have a great deal of responsibilities as appraisers but our chief duty is to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client.

read moreAt Midwest Valuation, LLC, we understand the particular needs of a customer seeking appraisal services. Our business practices and reporting formats are familiar to our business clients like banks, attorneys, and accountants. But as a consumer, you will receive extra guidance and explanations through the appraisal process to better understand what we do and how we report our findings. It's very hard to be objective about your own house because of your emotional attachment to it. A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.

read moreTo help the appraisal go as smoothly as possible we generally recommend you take the following actions and prepare the listed documents, if available, for the appraiser.