Reasons to get an appraisal from GKS Appraisal Services
Thousands of people in Pennsylvania purchase, sell or refinance their home each year. Most of these transactions include a simple line item for an appraisal. And while there are a growing number of automated home valuation methods that may appear to be more prudent than an appraisal, nearly all lenders still call for a local expert because the stakes are very high. Is obtaining a mortgage the only basis for getting an appraisal? Are there other instances when the services of a licensed, independent real estate professional could be helpful? Absolutely.
Appeal your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from GKS Appraisal Services is your best evidence when building your case. At GKS Appraisal Services, we're qualified to assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask homeowners to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. This extra payment is often folded into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases 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 installments when the loan-to-value ratio conditions have been met.
GKS Appraisal Services will provide you with a statement regarding the value of your home, and the expense of the appraisal can usually be regained in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially daunting experience for both parties, and it is often more complicated by the burdensome decision of who gets the house. It's a good idea to order an appraisal from GKS Appraisal Services so both parties are entirely aware of the true market value of their home, regardless of the situation.
The parties will have a clearer picture 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 gotten a fair assessment.
Accurate and fair estate liquidation
The death 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 real estate involved. We guarantee the fullest 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 do not have dedicated estate planners or executors to manage these issues. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Berks County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive features of their property, along with information about any recent sales or listings in their area that they want considered.
Sell your home quickly — for an accurate price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete 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 homesstay on the market. So, seeking a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.