Reasons to get an appraisal from Central Appraisal Services
To many, an appraisal just looks like another cost in the long list of items for a mortgage or refinance. While there are a budding number of automated home valuation systems that may appear more prudent than an appraisal, nearly all lenders still need a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only reason you should get an appraisal, but there are more cases when the services of a certified, independent real estate professional might be helpful.
Contest your tax assessment in Philadelphia County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your home, so if values have gone down in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask homeowners to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this extra payment is folded into the monthly mortgage payment and is quickly forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Central Appraisal Services can produce a statement regarding the value of your home. The price you paid for the home valuation can usually be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially daunting experience for both parties, and it is often even more complicated by the burdensome decision of who maintains the property. 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 situation.
The parties will have a better idea of what price to set, if they need 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 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 residential property involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of essential 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 are familiar with the headaches associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — at the right price
A professional appraisal will 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. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a reliable way to decide 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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