6 Reasons to order an appraisal from James Earp Appraisal Service
Thousands of people in North Carolina buy, sell or refinance their home every month. Most of these transactions contain a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation methods that might appear cheaper than an appraisal. You might think that getting a mortgage is the only reason to get an appraisal, but there are more times when the services of a licensed, independent real estate professional could be beneficial.
Contest your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your home, so if prices have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from James Earp Appraisal Service is your best evidence when building your case. We're capable of assisting you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that many lenders ask buyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, James Earp Appraisal Service will give you a statement regarding the value of your home. The price you paid for the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be a particularly horrible experience for both parties, and it is often more complicated by the troublesome decision of who gets the home. So both parties are fully aware of the true market value of their home, it's a good idea to order an appraisal from James Earp Appraisal Service, regardless of the situation.
The parties will have a better 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 received a fair evaluation.
Fair and accurate estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We guarantee 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 don't have dedicated estate planners or executors to manage these affairs, unlike wealthier 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 significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Wake County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home quickly — for the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to determine 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 are one the market.