Why you should order an appraisal from Frederick & Company
To a lot of us, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. Practically all lenders still need a local expert because the stakes are so high, even though there are a growing number of automated home valuation systems that may appear to be more economical than an appraisal. You might think that securing a mortgage is the only reason to get an appraisal, but there are more situations when the services of a licensed, independent real estate professional might be beneficial.
Appeal your tax assessment
If you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Frederick & Company, we're capable of assisting you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homebuyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Very often, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is damaging because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove 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 expense of the home valuation can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the difficult decision of who maintains the house, and it can be an especially traumatic ordeal for both parties. Regardless of the circumstances, 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 home.
If the parties need to sell the home, they'll have a a good idea of what price to set. 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 death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these issues. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Allegheny County for work
We are familiar with the headaches associated with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any new sales or listings in their area that they want considered.
Sell 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 better educated decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable 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, because we're experts in knowing how long houses stay on the market.