Reasons to hire an appraiser
Year after year, thousands of people in North Carolina buy, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation systems that might appear to be more practical than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there other situations when the services of a licensed, independent real estate professional might be beneficial? You bet there are.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values have gone down in your area, 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 appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, nearly all lenders ask buyers to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
James Earp Appraisal Service will produce a statement regarding the value of your home, and the expense of the home valuation can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a very horrible experience for the parties involved, and it is often further complicated by the strenuous decision of who gets the property. Regardless of the circumstances, 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 house.
The parties will have a better idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The death of 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. A home or other property often makes up an unequal 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 walk away knowing they've received an honest deal.
Move to or from Wake County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
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 better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long homes are one the market.