Reasons to order an appraisal from Frederick & Company
Thousands of people in Pennsylvania purchase, sell or refinance their home every month. Many of these transactions involve a simple line item for an appraisal. And while there are a budding number of automated home valuation systems that may appear to be more economical than an appraisal, practically all lenders still call in a local expert because the stakes are very high. You might assume that securing a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a certified, independent real estate professional might come in handy.
Contest your tax assessment
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your home, so if prices have gone down 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 disputing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that nearly all lenders ask homeowners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls 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 dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Frederick & Company will produce a statement regarding the value of your home, and the price you paid for the appraisal can generally be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a particularly traumatic ordeal for both parties, and it is often even more complicated by the troublesome decision of who gets the house. It's a good idea to get an appraisal from Frederick & Company so both parties are fully aware of the true market value of their property, regardless of the situation.
If the parties want to sell the home, they'll have a better idea of what price to set. And 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 loss of a loved one is a difficult 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 utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Allegheny County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough 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.
Sell your home quickly — at an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 are one the market.