Reasons to get an appraisal from R.M. Rose
Year after year, thousands of people in Pennsylvania purchase, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. And even though there are a budding number of automated home valuation processes that may seem more cost-effective than an appraisal, practically all lenders still need a local expert because the stakes are very high. You might believe that obtaining a mortgage is the only reason to get an appraisal, but there are other instances when the services of a licensed, independent real estate professional might be beneficial.
Dispute your tax assessment
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. At R.M. Rose, we're capable of assisting you in disputing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, many lenders ask homeowners to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
R.M. Rose will provide you with a statement regarding the value of your home, and the expense of the home valuation can generally be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is a very traumatic ordeal for the parties involved, and it is often even more complicated by the burdensome decision of who maintains the home. It's a good idea to order an appraisal from R.M. Rose so both parties are entirely aware of the true market value of their home, regardless of the situation.
The parties will have a good idea 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 received a fair evaluation.
Accurate and fair estate liquidation
Losing 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Montgomery County through an employee relocation program
We understand the headaches 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, as well as information about any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — for the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a trusted way to decide 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.