Why you should order an appraisal from Central Appraisal Services
To a lot of us, an appraisal is simply another cost on the settlement sheet for a home sale or refinance. Even though there are a developing number of automated home valuation methods that might appear less expensive than an appraisal, the majority of lenders still call in a local expert because the stakes are very high. Is obtaining a mortgage the only reason to acquire an appraisal? Are there other times when the services of a licensed, independent real estate professional could come in handy? You bet.
Challenge your tax assessment
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Central Appraisal Services is your best evidence when building your case. We can assist you in disputing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homeowners to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the property. This extra payment is often lumped into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires 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 often be offset in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a very horrible experience for both parties, and it is often further complicated by the difficult decision of who keeps the home. It's a good idea to order an appraisal from Central Appraisal Services so both parties are entirely aware of the true market value of their house, regardless of the situation.
The parties will have a good 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.
Determine 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 requires 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. And seeing that 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 significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Philadelphia County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive attributes of their property, as well as information about any recent sales or listings in their area that they want considered.
Close on your home promptly — for the right price
Whether you want 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 regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, seeking a professional appraisal is a reliable way to decide 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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