Let Frederick & Company attend to your appraisal needs
To a lot of people, an appraisal is simply one more thing in the long list of items for a home sale or refinance. Nearly all lenders still need a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation methods that might appear to be more prudent than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there other times when the services of a certified, independent real estate professional could come in handy? You bet there are.
Contest your tax assessment
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Frederick & Company is your best evidence when building your case. At Frederick & Company, we're capable of assisting you in appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask homeowners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is bad because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Frederick & Company can provide you with a statement regarding the value of your home, and the price you paid for the appraisal can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is an especially horrible experience for the parties involved, and it is often even more complicated by the burdensome decision of who keeps the home. So both parties are entirely aware of the true market value of their house, it's a good idea to order an appraisal from Frederick & Company, regardless of the circumstances.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine a fair and accurate 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. 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 manage these affairs. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Allegheny County for work
We understand the stress 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 about any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home promptly — at an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
We determine 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 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, because we're experts in knowing how long houses stay on the market.