Reasons to get an appraisal from Central Appraisal Services
To a lot of people, an appraisal just looks like one more thing in the long list of items for a mortgage or refinance. Even though there are a growing number of automated home valuation methods that may appear more prudent than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are other situations when the services of a certified, independent real estate professional might come in handy.
Appeal your tax assessment in Philadelphia County
It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if prices have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from Central Appraisal Services is your best evidence when building your case. At Central Appraisal Services, we're qualified to assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, almost all lenders ask home buyers to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Central Appraisal Services will provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be recovered in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the difficult decision of who keeps the house, and it can be a very traumatic occurrence for both parties. So both parties are completely aware of the true market value of their property, it's a good idea to get an appraisal from Central Appraisal Services, regardless of the situation.
The parties will have a a good idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The death of 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 many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Philadelphia County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
Sell your home quickly — for the right price
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 better educated decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting 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 an unnecessarily long time, because we're experts in knowing how long properties are one the market.
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