Reasons to consider an appraisal from James Earp Appraisal Service
Year after year, thousands of people in North Carolina purchase, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. While there are a multiplying number of automated home valuation processes that may appear to be more prudent than an appraisal, most lenders still want a local expert because the stakes are so high. Is getting a mortgage the only reason to acquire an appraisal? Are there more situations when the services of a certified, independent real estate professional might come in handy? Of course there are.
Challenge your tax assessment in Wake County
If you live in an area where the value of property has 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 qualified to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, almost all lenders ask homebuyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is folded into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to remove 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 produce a statement regarding the value of your home. The cost of the home valuation can often be recovered in little time 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 ordeal for the parties involved, and it is often more complicated by the hard decision of who maintains the house. It's a good idea to get an appraisal from James Earp Appraisal Service so both parties are fully aware of the true market value of their property, regardless of the situation.
If the parties wish 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 gotten a fair assessment.
Determine 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 requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten 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 setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any recent sales or listings in their area that they want considered during our thorough inspection.
Close on your home promptly — at an accurate price
A professional appraisal will help you make a more informed decision regarding your asking 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, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, getting a professional appraisal is a trusted 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.