6 Reasons to consider an appraisal from Central Appraisal Services
Thousands of people in Pennsylvania purchase, sell or refinance their home each month. Most of these transactions consist of a simple line item for an appraisal. And even though there are an increasing number of automated home valuation systems that may appear to be more prudent than an appraisal, most lenders still want a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be beneficial.
Challenge 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. Ad Valorem taxes are based upon a previous assessment of your home, so if prices have declined in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, nearly all lenders ask home buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't required 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 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 expense of the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is an especially horrible event for the parties involved, and it is often more complicated by the troublesome decision of who gets the home. Regardless of the situation, 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.
The parties will have a a good idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a painful time in life, and settling an estate from a death, or probate, often requires 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.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Philadelphia County for work
Employee relocation can be a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide input 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 an accurate price
A professional appraisal can help you make a better educated decision when determining your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. 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 examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long houses stay on the market.
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