Why you should get an appraisal from Frederick & Company
Each year, thousands of people in Pennsylvania purchase, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that might appear more cost-effective than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there additional times when the services of a certified, independent real estate professional might come in handy? You bet.
Appeal your tax assessment
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 real estate, so if values have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Frederick & Company will give you a statement regarding the value of your home. The expense of the home valuation can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be an especially daunting event for both parties, and it is often even more complicated by the burdensome decision of who gets the house. 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 situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten 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 requires an appraisal to establish Fair Market Value for the residential property involved. We guarantee the highest 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 take care of these issues, unlike wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Allegheny County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — for 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 use the assistance of a real estate agent. 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 are based on our efforts to complete the appraisal report.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesstay on the market. So, getting a professional appraisal is a trusted way to determine 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.