6 Reasons to order an appraisal from Spencer Appraisal Services, Inc.
To many, an appraisal is simply another cost in the long list of items for a home sale or refinance. While there are a growing number of automated home valuation methods that may seem more prudent than an appraisal, almost all lenders still call in a local expert because the stakes are very high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are more situations when the services of a licensed, independent real estate professional could be helpful.
Contest your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your home, so if values have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from Spencer Appraisal Services, Inc. is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, nearly all lenders ask buyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Spencer Appraisal Services, Inc. can provide you with a statement regarding the value of your home, and the expense of the appraisal can usually be recovered in just a few months because you'll no longer be paying the PMI.
Order an appraisal from Spencer Appraisal Services, Inc.Order online
Get a fair valuation on a home for divorce settlements
A divorce is a very daunting ordeal for the parties involved, and it is often more complicated by the troublesome decision of who gets the house. It's a good idea to get an appraisal from Spencer Appraisal Services, Inc. so both parties are fully aware of the true market value of their property, regardless of the circumstances.
The parties will have a clearer picture 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
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these affairs, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Montgomery County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough inspection.
Sell your home promptly — for an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, seeking a professional appraisal is a trusted 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.