6 Reasons to order an appraisal from Nordquist Appraisal LLC
Each year, thousands of people in Pennsylvania purchase, sell or refinance their home. A lot of these transactions involve a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that may appear more practical than an appraisal. You might think that securing a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a certified, independent real estate professional might be helpful.
Challenge your tax assessment
If you are in an area where property values have 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 can assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask home buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the property. This additional payment is often 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 remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Nordquist Appraisal LLC can produce a statement regarding the value of your home. The cost of the appraisal can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be a particularly horrible experience for both parties, and it is often even more complicated by the challenging decision of who keeps the house. It's a good idea to order an appraisal from Nordquist Appraisal LLC so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The loss 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 residential property involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. 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 walk away knowing they've received a fair deal.
Relocate to or from Allegheny County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive attributes of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — for the right price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you choose 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 price the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.
We examine 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 housesstay on the market. So, obtaining a professional appraisal is a reliable 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.