6 Reasons to consider an appraisal from James Earp Appraisal Service
To a lot of us, an appraisal is simply one more thing on the break-sheet for a home sale or refinance. And while there are a budding number of automated home valuation methods that might seem more cost-effective than an appraisal, practically all lenders still call for a local expert because the stakes are so high. You might assume that securing a mortgage is the only reason to get an appraisal, but there are additional instances when the services of a licensed, independent real estate professional might be helpful.
Appeal your tax assessment in Wake County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your real estate, so if values have declined in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At James Earp Appraisal Service, we're qualified to assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. This extra payment is often folded into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
James Earp Appraisal Service will provide you with a statement regarding the value of your home, and the cost of the appraisal can often 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 is a particularly traumatic event for the parties involved, and it is often further complicated by the challenging 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 circumstances.
If the parties want to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine a fair and accurate valuation for estate liquidation
Losing a loved one is a painful 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 ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. A home or other property often makes up an unequal share of the total estate value, so knowing 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 Wake County through an employee relocation program
We are aware of the stress involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any new sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — for an accurate price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you choose to sell your home on your own or use the assistance 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 related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, obtaining a professional appraisal is a reliable way to determine 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.