Let Preferred Appraisers, Inc. serve your appraisal needs
To a lot of us, an appraisal is simply one more thing in the long list of items for a home sale or refinance. While there are a growing number of automated home valuation processes that may appear to be less expensive than an appraisal, most lenders still want a local expert because the stakes are very high. Is getting a mortgage the only reason to acquire an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be beneficial? You bet.
Challenge your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a past assessment of your house, so if values have declined in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're qualified to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, almost all lenders ask homebuyers to purchase this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Preferred Appraisers, Inc. can produce a statement regarding the value of your home, and the expense of the appraisal can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be a very horrible experience for both parties, and it is often further complicated by the burdensome decision of who gets the property. So both parties are entirely aware of the true market value of their property, it's a good idea to get an appraisal from Preferred Appraisers, Inc., regardless of the situation.
The parties will have a better 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 difficult 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 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 don't have dedicated estate planners or executors to manage these issues, unlike many wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, 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 Gloucester County through an employee relocation program
We are familiar with the stress involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, along with information about any current sales or listings in their area that they want considered during our intensive inspection.
Sell your home promptly — at the right price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you choose 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 related to the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, getting a professional appraisal is a trusted way to determine 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.