Reasons to get an appraisal from James Earp Appraisal Service
Thousands of people in North Carolina purchase, sell or refinance their home every year. Many of these transactions include a simple line item for an appraisal. And even though there are a growing number of automated home valuation systems that may seem more cost-effective than an appraisal, almost all lenders still call in a local expert because the stakes are incredibly high. You might assume that getting a mortgage is the only reason to get an appraisal, but there are more situations when the services of a certified, independent real estate professional might come in handy.
Contest your tax assessment in Wake County
It's probable you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your home, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask home buyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss 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 provide you with a statement regarding the value of your home. The price you paid for the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be a very horrible event for both parties, and it is often even more complicated by the burdensome decision of who keeps the home. Regardless of the circumstances, it's a good idea to order an appraisal from James Earp Appraisal Service so both parties are completely aware of the true market value of their house.
The parties will have a better idea of what price to set, if they need to sell the home. And 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 entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Wake County for work
We are aware of the headaches involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information about any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home quickly — for the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of 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. Obtaining 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, because we're experts in knowing how long homes are one the market.