Why you should order an appraisal

To a lot of us, an appraisal just looks like another fee on the break-sheet for a home sale or refinance. And while there are a multiplying number of automated home valuation systems that might appear to be more practical than an appraisal, nearly all lenders still need a local expert because the stakes are so high. You might believe that obtaining a mortgage is the only reason to get an appraisal, but there are other times when the services of a licensed, independent real estate professional could come in handy.

Let Preferred Appraisers, Inc. help you lower your mortgage payment

Challenge your tax assessment in Gloucester County

It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your home, so if values have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Preferred Appraisers, Inc. is your best evidence when building your case. We're equipped to assist you in appealing your tax assessment.

PMI removal to lower your mortgage payment

Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Very often, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the remainder 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 remove the PMI installments when the loan-to-value ratio conditions have been met.

Preferred Appraisers, Inc. can provide you with a statement regarding the value of your home, and the expense of the appraisal can generally be regained in just a few months 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 further complicated by the challenging decision of who maintains the property. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from Preferred Appraisers, Inc., regardless of the circumstances.

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

Determine an accurate and fair valuation for estate liquidation

Losing a loved one is a hard 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.

Most Americans don't have dedicated estate planners or executors to manage 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 significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Relocate to or from Gloucester County through an employee relocation program

Employee relocation can be 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 characteristics of their property, as well as information about any recent sales or listings in their area that they want considered during our detailed inspection.

Sell your home promptly — for an accurate price

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. Unlike 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 rest 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. Getting a professional appraisal is a trusted 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 houses are one the market.

Let Preferred Appraisers, Inc. assist you in selling your home quickly at the right price