Why you should get an appraisal

To many, an appraisal is simply another fee in the long list of items for a home purchase or refinance. Nearly all lenders still need a local expert because the stakes are so high, even though there are a growing number of automated home valuation methods that may seem more economical than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are more times when the services of a licensed, independent real estate professional might be helpful.

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

Challenge your tax assessment

It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your real estate, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in disputing your tax assessment.

Get rid of PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask homeowners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Oftentimes, this additional payment is lumped into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, James Earp Appraisal Service can give you a statement regarding the value of your home. The price you paid for the appraisal can often be offset 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 often complicated by the burdensome decision of who maintains the home, and it can be a particularly traumatic occurrence for both parties. 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 want to sell the home, they'll have a a good idea 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 evaluation.

Ascertain an accurate and fair valuation for estate liquidation

The loss of a loved one is a painful 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. 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 many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten 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 establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered during our thorough inspection.

Sell your home quickly — for the right price

Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, unlike 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 determine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, seeking a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate 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 help you sell your home quickly at the right price