Reasons to get an appraisal

Each year, thousands of people in North Carolina buy, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are so high, even though there are a budding number of automated home valuation processes that might appear less expensive than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there more situations when the services of a certified, independent real estate professional might be beneficial? Absolutely.

Let James Earp Appraisal Service assist you in lowering your mortgage payment

Challenge your tax assessment in Wake County

If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in disputing your tax assessment.

Getting rid of your PMI for mortgage payments

When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, nearly all lenders ask homebuyers to take out this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to do away with PMI, James Earp Appraisal Service can give you a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce can be an especially traumatic event for both parties, and it is often more complicated by the difficult decision of who maintains the home. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from James Earp Appraisal Service, regardless of the situation.

The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Ascertain a fair and accurate valuation for estate liquidation

Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for 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).

Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these matters. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.

Relocate to or from Wake County for work

Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive features of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.

Close on your home quickly — at 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 use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.

We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Getting 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, because we're experts in knowing how long properties are one the market.

Let James Earp Appraisal Service help you sell your home quickly at the right price