6 Reasons to choose an appraisal from Central Appraisal Services
Thousands of people in Pennsylvania buy, sell or refinance their home every month. Most of these transactions have a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are very high, even though there are a budding number of automated home valuation processes that may appear to be less expensive than an appraisal. You might assume that securing a mortgage is the only reason to get an appraisal, but there are more instances when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. This additional payment is often 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 - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with 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 cost of the home valuation can usually be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the challenging decision of who maintains the property, and it can be a particularly daunting event for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Central Appraisal Services so both parties are fully aware of the true market value of their home.
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.
Determine a fair and accurate valuation for estate liquidation
The loss 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 fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike many wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received a fair 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 organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, seeking a professional appraisal is a trusted 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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