Reasons to order an appraisal from Frederick & Company
To many, an appraisal is simply another cost on the settlement sheet for a home sale or refinance. And while there are a growing number of automated home valuation methods that may appear to be more practical than an appraisal, nearly all lenders still call in a local expert because the stakes are incredibly high. You might assume that securing a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a licensed, independent real estate professional might be beneficial.
Contest your tax assessment in Allegheny County
If you reside 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, nearly all lenders ask home buyers to buy this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Most often, this extra payment is lumped into the monthly mortgage payment and is quickly forgotten. 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, making this very unfavorable. 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 can provide you with a statement regarding the value of your home, and the expense of the home valuation can often be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is an especially horrible ordeal for the parties involved, and it is often even more complicated by the challenging decision of who keeps the property. Regardless of the situation, it's a good idea to order an appraisal from Frederick & Company so both parties are completely aware of the true market value of their property.
If the parties need to sell the home, they'll have a clearer picture 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 assessment.
Ascertain 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, guaranteeing the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike many 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 vital importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Allegheny County through an employee relocation program
We understand the headaches associated 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 feedback on the positive attributes of their property, along with information about any current sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable 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 houses are one the market.