Reasons to order an appraisal
Each year, thousands of people in Pennsylvania purchase, sell or refinance their home. A lot of these transactions have 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 a developing number of automated home valuation methods that might appear to be less expensive than an appraisal. Is obtaining a mortgage the only reason to get an appraisal? Are there more times when the services of a certified, independent real estate professional could come in handy? You bet.
Dispute your tax assessment in Allegheny County
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Nordquist Appraisal LLC is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, most lenders ask homebuyers to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is folded into the monthly mortgage payment and is soon forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked 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.
If you'd like to do away with PMI, Nordquist Appraisal LLC can provide you with a statement regarding the value of your home. 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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Settle a divorce with fewer hang-ups
A divorce is a particularly daunting event for the parties involved, and it is often more complicated by the challenging decision of who gets the home. It's a good idea to get an appraisal from Nordquist Appraisal LLC so both parties are completely aware of the true market value of their property, regardless of the situation.
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 received a fair assessment.
Accurate and fair 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 highest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. A home or other property often makes up a disproportionate 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 gotten a fair deal.
Move to or from Allegheny County through an employee relocation program
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback 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 intensive inspection.
Sell your home quickly — for the right price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
We analyze 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 propertiesstay on the market. So, getting a professional appraisal is a trusted way to decide 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.