Reasons to get an appraisal

Every year, thousands of people in North Carolina buy, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. And even though there are a budding number of automated home valuation processes that might appear more cost-effective than an appraisal, practically all lenders still need a local expert because the stakes are incredibly high. You might think that getting a mortgage is the only reason to get an appraisal, but there are additional times when the services of a licensed, independent real estate professional could be helpful.

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Contest your tax assessment

If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.

Getting rid of your PMI for mortgage payments

Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask home buyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, James Earp Appraisal Service can provide you with a statement regarding the value of your home. The cost of the home valuation can usually be regained 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 an especially traumatic ordeal for both parties, and it is often further complicated by the strenuous decision of who maintains the property. Regardless of the circumstances, it's a good idea to order an appraisal from James Earp Appraisal Service so both parties are completely aware of the true market value of their property.

If the parties wish to sell the home, they'll have a better 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 received a fair assessment.

Accurate and fair estate liquidation

The loss of 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 real estate involved. We ensure the maximum 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 handle these issues, unlike many wealthy individuals. A home or other property often makes up an uneven 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 an honest deal.

Move to or from Wake County for work

Employee relocation can be a stressful event, and we understand. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our thorough inspection.

Sell your home quickly — at the right price

Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to complete the appraisal report and not a percentage of the sales price.

We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 homes are one the market.

Let James Earp Appraisal Service assist you in selling your home quickly at the right price