JK Appraisals,LLC in Pittsburgh perform appraisals for numerous clientsThousands of people in Pennsylvania purchase, sell or refinance their home every year. Many of these transactions have a simple line item for an appraisal. Practically all lenders still need a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation systems that might appear to be more cost-effective than an appraisal. You might believe that obtaining a mortgage is the only reason to acquire an appraisal, but there are additional instances when the services of a certified, independent real estate professional might be helpful.
Dispute your tax assessment in Allegheny CountyIt's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your real estate, so if prices have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from JK Appraisals,LLC is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
JK Appraisals,LLC can help you do away with PMI to lower your mortgage paymentWhen the amount being loaned to the buyer is more than 80% of the actual value of the home, nearly all lenders ask homeowners to take out an supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, JK Appraisals,LLC can produce a statement regarding the value of your home. The expense of the appraisal can generally be regained in a short amount of time because you'll no longer be paying the PMI.
Divorce settlement with less stressA divorce is an especially heartbreaking event for the parties involved, and it is often more complicated by the burdensome decision of who keeps the home. Regardless of the situation, it's wise to get an appraisal from JK Appraisals,LLC so both parties are entirely aware of the true market value of their property.
If the parties wish 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 gotten a fair assessment.
Settling an estate with peace of mindThe loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish 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 do not have dedicated estate planners or executors to manage these affairs, unlike wealthier individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Don't sell out for too little or keep your home on the market too long.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 selling price. An appraiser has no vested interest in what price the house sells for, which is different than the interest of real estate agents. The price we charge isn't related to the sales price, but rather they depend on our efforts to complete the appraisal.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long houses are on the market. So, obtaining 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.