Reasons to choose an appraisal from James Earp Appraisal Service
To a lot of us, an appraisal just looks like one more thing on the settlement sheet for a home sale or refinance. While there are a developing number of automated home valuation processes that may appear more cost-effective than an appraisal, practically all lenders still call in a local expert because the stakes are incredibly high. Is securing a mortgage the only basis for getting an appraisal? Are there additional instances when the services of a licensed, independent real estate professional might come in handy? Absolutely.
Challenge your tax assessment in Wake County
If you are in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from James Earp Appraisal Service is your best evidence when building your case. At James Earp Appraisal Service, we're capable of assisting you in appealing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, many lenders ask home owners to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, James Earp Appraisal Service will provide you with a statement regarding the value of your home. The cost of the home valuation can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be an especially horrible experience for both parties, and it is often even more complicated by the troublesome decision of who gets the home. Regardless of the circumstances, it's a good idea to order an appraisal from James Earp Appraisal Service so both parties are fully aware of the true market value of their property.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for 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 do not have dedicated estate planners or executors to take care of these affairs, unlike wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Wake County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest 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.
Close on your home promptly — for the right price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.