Reasons you should order an appraisal from Spencer Appraisal Services, Inc.
To many, an appraisal is simply another cost on the settlement sheet for a home sale or refinance. While there are a growing number of automated home valuation methods that may seem more prudent than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. Is securing a mortgage the only reason to acquire an appraisal? Are there also cases when the services of a licensed, independent real estate professional might be beneficial? Of course there are.
Appeal your tax assessment in Montgomery County
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Spencer Appraisal Services, Inc., we're capable of assisting you in disputing your tax assessment.
Getting rid of your 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 homeowners to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Spencer Appraisal Services, Inc. will produce a statement regarding the value of your home. The price you paid for the home valuation can usually be offset 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 a particularly traumatic ordeal for both parties, and it is often more complicated by the strenuous decision of who keeps the house. Regardless of the situation, it's a good idea to get an appraisal from Spencer Appraisal Services, Inc. so both parties are fully aware of the true market value of their house.
The parties will have a clearer picture of what price to set, if they need 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 an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful 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).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal share of the total estate value, knowing 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.
Relocate to or from Montgomery County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home quickly — for an accurate price
A professional appraisal can help you make a better educated 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 price the house sells for, unlike 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 examine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, getting a professional appraisal is a reliable 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.