Let Central Appraisal Services attend to your appraisal needs
Thousands of people in Pennsylvania buy, sell or refinance their home every month. Many of these transactions have a simple line item for an appraisal. And while there are a growing number of automated home valuation methods that may appear more prudent than an appraisal, most lenders still call in a local expert because the stakes are so high. You might think that obtaining a mortgage is the only basis for getting an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could be helpful.
Dispute your tax assessment in Philadelphia County
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a previous assessment of your house, so if prices are less than what they used to be 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. We're capable of assisting you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, nearly all lenders ask home buyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Central Appraisal Services will give you a statement regarding the value of your home, and the price you paid for the appraisal can often be recovered in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is often complicated by the hard decision of who maintains the property, and it can be a particularly daunting ordeal for both parties. It's a good idea to get an appraisal from Central Appraisal Services so both parties are completely aware of the true market value of their home, regardless of the circumstances.
The parties will have a better idea of what price to set, if they wish 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
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Philadelphia County through an employee relocation program
We are familiar with the stress associated with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any current sales or listings in their area that they want considered during our detailed inspection.
Sell your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable way to determine what improvements will add value and what a suitable 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 houses stay on the market.
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