Let James Earp Appraisal Service serve your appraisal needs
Thousands of people in North Carolina purchase, sell or refinance their home every year. Many of these transactions have a simple line item for an appraisal. And even though there are a growing number of automated home valuation processes that may appear to be cheaper than an appraisal, most lenders still want a local expert because the stakes are incredibly high. You might believe 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
If you reside in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At James Earp Appraisal Service, we're equipped to assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask homebuyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. This additional payment is often bundled 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 - goes 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 remove the PMI installments when the loan-to-value ratio conditions have been met.
James Earp Appraisal Service can provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be recovered in just a few months 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 troublesome decision of who maintains the property, and it can be a particularly traumatic ordeal 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.
The parties will have a better idea of what price to set, if they want to sell the home. 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
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, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike many wealthy individuals. And seeing that 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 significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Move 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 setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any new sales or listings in their area that they want considered.
Close on your home promptly — for the right price
A professional appraisal will help you make a better educated decision when determining 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 rest on our efforts to complete the appraisal report and not a percentage of the sales price.
We analyze the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare 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.