Let Spencer Appraisal Services, Inc. attend to your appraisal needs
To a lot of us, an appraisal is simply another fee in the long list of items for a home purchase or refinance. And even though there are a multiplying number of automated home valuation processes that might appear to be more cost-effective than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. Is obtaining a mortgage the only basis for getting an appraisal? Are there also times when the services of a licensed, independent real estate professional might be helpful? You bet there are.
Contest your tax assessment in Montgomery County
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your real estate, so if prices have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Spencer Appraisal Services, Inc., we're qualified to assist you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that most lenders ask homebuyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Oftentimes, this additional payment is lumped into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips 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 do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Spencer Appraisal Services, Inc. can give you a statement regarding the value of your home. The price you paid for the home valuation can often be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially traumatic event for both parties, and it is often further complicated by the strenuous decision of who maintains the property. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from Spencer Appraisal Services, Inc., regardless of the circumstances.
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 evaluation.
Determine an accurate and fair valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We ensure 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 don't have dedicated estate planners or executors to take care of these issues, unlike wealthy 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 essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Montgomery County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, as well as information regarding 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 more informed decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a trusted 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 properties stay on the market.