Why you should get an appraisal
Thousands of people in Pennsylvania purchase, sell or refinance their home each year. A lot of these transactions involve a simple line item for an appraisal. Almost all lenders still call for a local expert because the stakes are very high, even though there are an increasing number of automated home valuation processes that might seem more prudent than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there additional times when the services of a licensed, independent real estate professional could be beneficial? Of course.
Appeal your tax assessment in Allegheny County
If you live in an area where property values have depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, almost all lenders ask buyers to purchase this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is lumped into the monthly mortgage payment and is promptly forgotten. This is bad because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments 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 recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is a very horrible ordeal for the parties involved, and it is often more complicated by the burdensome decision of who keeps the home. Regardless of the circumstances, it's a good idea to get an appraisal from Frederick & Company so both parties are completely aware of the true market value of their property.
The parties will have a better idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Allegheny County for work
We are aware of the stress associated with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information about any new sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — at the right price
A professional appraisal will help you make a more informed decision when determining your selling 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 amount the house sells for, unlike real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long houses are one the market.