Why you should order an appraisal from Spencer Appraisal Services, Inc.

Each year, thousands of people in Pennsylvania buy, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. While there are a developing number of automated home valuation methods that might appear to be cheaper than an appraisal, most lenders still need a local expert because the stakes are so high. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a certified, independent real estate professional might be helpful.

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Challenge your tax assessment

It's possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a past assessment of your house, so if prices have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from Spencer Appraisal Services, Inc. is your best evidence when building your case. 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 owneris more than 80% of the actual value of the real estate, almost all lenders ask buyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.

Spencer Appraisal Services, Inc. will give you a statement regarding the value of your home, and the price you paid for the home valuation can generally be offset in just a few months because you'll no longer be paying the PMI.

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Divorce settlement with less stress

A divorce is a particularly horrible ordeal for the parties involved, and it is often more complicated by the difficult decision of who keeps the property. Regardless of the circumstances, it's a good idea to order an appraisal from Spencer Appraisal Services, Inc. so both parties are entirely aware of the true market value of their home.

The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.

Ascertain a fair and accurate valuation for estate liquidation

The death of a loved one is a difficult 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.

Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.

Relocate to or from Montgomery County for work

We are aware of the headaches involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive characteristics of their property, as well as information about any new sales or listings in their area that they want considered.

Close on your home quickly — at the right price

A professional appraisal can help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. 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 rest on our efforts to complete the appraisal report.

We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare 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.

Let Spencer Appraisal Services, Inc. assist you in selling your home quickly at the right price