Why you should hire an appraiser

Year after year, thousands of people in Pennsylvania buy, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation processes that might appear less expensive than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional situations when the services of a licensed, independent real estate professional might be beneficial? Of course there are.

Let Spencer Appraisal Services, Inc. assist you in lowering your mortgage payment

Appeal your tax assessment

If you live in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in challenging your tax assessment.

Removing PMI for mortgage payments

When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, almost all lenders ask homebuyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress implemented 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.

Spencer Appraisal Services, Inc. can provide you with a statement regarding the value of your home, and the cost of the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.

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Get a fair valuation on a home for divorce settlements

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

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

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 requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum 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 handle these issues, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received an honest deal.

Move to or from Montgomery County for work

We are familiar with the stress involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive aspects of their property, along with information about any current sales or listings in their neighborhood that they want considered.

Close on your home quickly — for an accurate price

A professional appraisal will help you make a more informed decision regarding your asking price, whether you choose 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, unlike real estate agents. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.

We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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.

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