6 Reasons to consider an appraisal from Central Appraisal Services

Thousands of people in Pennsylvania buy, sell or refinance their home every month. Most of these transactions involve a simple line item for an appraisal. While there are a budding number of automated home valuation systems that may seem less expensive than an appraisal, almost all lenders still call for a local expert because the stakes are incredibly high. You might assume that getting a mortgage is the only reason to get an appraisal, but there are more times when the services of a certified, independent real estate professional could come in handy.

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Challenge your tax assessment

If you reside in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in challenging your tax assessment.

Removing PMI for mortgage payments

Private Mortgage Insurance, or PMI, is an added insurance plan that almost all lenders ask buyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Since the additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.

Central Appraisal Services can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.

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Divorce settlement with less stress

A divorce can be a particularly daunting experience for both parties, and it is often more complicated by the strenuous decision of who gets the house. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Central Appraisal Services, regardless of the circumstances.

The parties will have a clearer picture of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Ascertain a fair and accurate valuation for estate liquidation

Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.

Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.

Move to or from Philadelphia County through an employee relocation program

We understand the stress associated with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough inspection.

Close on your home quickly — for the right price

Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.

On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, obtaining a professional appraisal is a reliable way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.

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