Why you should get an appraisal

Thousands of people in North Carolina purchase, sell or refinance their home each month. Most of these transactions include a simple line item for an appraisal. Even though there are a multiplying number of automated home valuation systems that may appear more practical than an appraisal, the majority of lenders still need a local expert because the stakes are very high. Is getting a mortgage the only basis for getting an appraisal? Are there also times when the services of a licensed, independent real estate professional could be beneficial? You bet there are.

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

Dispute your tax assessment in Wake County

If you live in an area where the value of property has 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're qualified to assist you in appealing your tax assessment.

PMI removal to reduce your mortgage payment

When the amount being loaned to the homeowneris more than 80% of the actual value of the home, almost all lenders ask buyers to purchase this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove 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 expense of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.

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Settle a divorce with fewer hang-ups

A divorce is a very horrible ordeal for the parties involved, and it is often further complicated by the hard decision of who gets 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.

If the parties want to sell the home, they'll have a clearer picture 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.

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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.

Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. And since a home or other property often makes up a disproportionate share of the total estate value, 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

Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating 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 about any new sales or listings in their area that they want considered.

Sell your home promptly — at the right price

Whether you decide 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. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.

We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a trusted way to decide 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.

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