Why you should hire an appraiser
Each 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. The majority of lenders still call in a local expert because the stakes are so high, even though there are a growing number of automated home valuation methods that might appear to be more cost-effective than an appraisal. You might believe that getting a mortgage is the only basis for getting an appraisal, but there are other situations when the services of a licensed, independent real estate professional might be beneficial.
Appeal your tax assessment in Montgomery County
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your house, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that most lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. This is bad because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
H.M. Hoffman & Company will provide you with a statement regarding the value of your home, and the cost of the home valuation can generally be regained in just a few months 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 ordeal for the parties involved, and it is often more complicated by the troublesome decision of who gets the property. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from H.M. Hoffman & Company, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they want 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
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Montgomery County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking 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, because we're experts in knowing how long homes stay on the market.