5 Common Reasons You Might Need a Property Appraisal (That Aren’t Buying or Selling)

When people think of property appraisals, the first thing that often comes to mind is buying or selling a home. While those are two of the most common scenarios, appraisals are crucial in many other situations that can significantly impact your finances, your legal standing, or your peace of mind.

At DJ Howard & Associates, we provide professional, unbiased property valuations for a wide range of purposes—many of which have nothing to do with a real estate transaction. Here are five common reasons you might need an appraisal outside of buying or selling:

1. Divorce Settlements

Dividing assets during a divorce can be emotionally and financially complex. If real estate is involved, both parties will need to know the fair market value of the home to ensure an equitable division. An independent, certified appraisal helps prevent disputes and provides documentation that holds up in court.

2. Estate Planning and Probate

Whether you're creating a will or managing a loved one's estate, an appraisal provides a clear, IRS-compliant valuation of real property. Accurate property values are essential for tax reporting, fair distribution of assets, and settling estates efficiently.

3. Property Tax Appeals

If you believe your property tax bill is too high, an appraisal can serve as credible evidence to support your appeal. County assessments don’t always reflect current market conditions, especially after major shifts in property values. A professional appraisal can help you reduce your property tax burden.

4. Refinancing or Home Equity Loans

Lenders often require an updated appraisal to determine how much equity you have in your property before approving a refinance or home equity line of credit (HELOC). A recent, accurate appraisal ensures you qualify for the best possible loan terms and interest rates.

5. Insurance Purposes

Appraisals help determine the replacement value of your home or other structures on your property. This is especially important if you’re insuring high-value homes or making changes to your policy. Ensuring your coverage reflects current value helps avoid under- or over-insurance in the event of damage or loss.

Trust the Local Experts in Highland, IL

At DJ Howard & Associates, we bring decades of experience to every appraisal. Whether you need a valuation for legal, financial, or personal reasons, our certified team is ready to help. We serve clients across Highland, IL and surrounding counties with fast, accurate, and professional service.



📞 Need an appraisal for one of these reasons? Call us today at 618-654-1200 or visit www.djhowardrea.com