Reasons to order an appraisal from Central Appraisal Services
Year after year, thousands of people in Pennsylvania buy, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation processes that might appear to be less expensive than an appraisal. You might assume that securing a mortgage is the only reason to acquire an appraisal, but there are additional 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 live in an area where property values have depreciated. Ad Valorem taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can challenge 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 appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, nearly all lenders ask home owners to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often folded into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Central Appraisal Services can produce a statement regarding the value of your home, and the cost of the appraisal can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is a very traumatic ordeal for the parties involved, and it is often further complicated by the challenging decision of who gets the home. So both parties are entirely aware of the true market value of their property, it's a good idea to order an appraisal from Central Appraisal Services, regardless of the situation.
If the parties want to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a painful 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 maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Philadelphia County for work
We are familiar with the headaches associated with an employee relocation. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive features of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Sell your home promptly — at 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. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, seeking 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.
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