Reasons to get an appraisal from Spencer Appraisal Services, Inc.

Thousands of people in Pennsylvania purchase, sell or refinance their home every year. Most of these transactions include a simple line item for an appraisal. Even though there are a growing number of automated home valuation processes that may appear cheaper than an appraisal, most lenders still call for a local expert because the stakes are very high. You might assume that obtaining a mortgage is the only basis for getting an appraisal, but there are more instances when the services of a certified, independent real estate professional might be beneficial.

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

Appeal your tax assessment in Montgomery County

It's likely 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 past assessment of your real estate, so if values have gone down 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 can assist you in challenging your tax assessment.

Eliminating PMI for mortgage payments

Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. This additional payment is often folded into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

Spencer Appraisal Services, Inc. will produce 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 clear valuation on a home for divorce settlements

A divorce is an especially horrible event for the parties involved, and it is often further complicated by the burdensome decision of who maintains the home. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from Spencer Appraisal Services, Inc., regardless of the circumstances.

The parties will have a a good 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 received a fair assessment.

Fair and accurate estate liquidation

The death of 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 fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these issues. 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 vital importance to ensuring disputing parties leave knowing they've received a fair deal.

Move to or from Montgomery County for work

We know the headaches associated with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information about any recent sales or listings in their area that they want considered during our detailed inspection.

Close on your home promptly — at an accurate price

A professional appraisal can help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.

We examine 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 determine what improvements will add value and what a suitable 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 houses stay on the market.

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