Why you should get an appraisal from James Earp Appraisal Service
Thousands of people in North Carolina purchase, sell or refinance their home every year. Most of these transactions consist of a simple line item for an appraisal. Most lenders still want a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation methods that may appear more prudent than an appraisal. Is securing a mortgage the only basis for getting an appraisal? Are there also situations when the services of a licensed, independent real estate professional could be beneficial? Absolutely.
Challenge your tax assessment
If you live in an area where property values have depreciated, 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. We can assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, many lenders ask homeowners to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases 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 can give you a statement regarding the value of your home, and the expense of the home valuation can often be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the strenuous decision of who keeps the house, and it can be a particularly traumatic ordeal for both parties. Regardless of the situation, it's a good idea to get an appraisal from James Earp Appraisal Service so both parties are entirely aware of the true market value of their house.
The parties will have a clearer picture 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 gotten a fair evaluation.
Fair and accurate estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails 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 fullest degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Wake County for work
We are familiar with the stress associated with an employee relocation. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information about any new sales or listings in their area that they want considered during our intensive inspection.
Close on your home quickly — at the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted way to decide 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 houses stay on the market.