Why you should get an appraisal from Spencer Appraisal Services, Inc.
Each year, thousands of people in Pennsylvania buy, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. Practically all lenders still want a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that might seem less expensive than an appraisal. You might believe that getting a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a certified, independent real estate professional could be beneficial.
Challenge your tax assessment in Montgomery County
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if prices are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from Spencer Appraisal Services, Inc. is your best evidence when building your case. At Spencer Appraisal Services, Inc., we're equipped to assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, most lenders ask homeowners to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Spencer Appraisal Services, Inc. will produce a statement regarding the value of your home. The price you paid for the appraisal can generally be offset in little time 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 troublesome decision of who gets the house, and it can be a particularly traumatic occurrence for both parties. Regardless of the situation, it's a good idea to order an appraisal from Spencer Appraisal Services, Inc. so both parties are fully aware of the true market value of their home.
If the parties want to sell the home, they'll have a better idea of what price to set. And on the flip side, 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 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 guarantee the utmost 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 issues, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Montgomery County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide feedback on the positive aspects of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Sell your home promptly — for an accurate price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
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 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, because we're experts in knowing how long properties are one the market.