Reasons to get an appraisal
To a lot of us, an appraisal is simply one more thing in the long list of items for a mortgage or refinance. Practically all lenders still call in a local expert because the stakes are incredibly high, even though there are a multiplying number of automated home valuation systems that may seem cheaper than an appraisal. You might think that getting a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a certified, independent real estate professional could be helpful.
Contest your tax assessment in Berks County
If you are in an area where the property value has depreciated, 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 equipped to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask home owners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, GKS Appraisal Services will produce a statement regarding the value of your home. The cost of the appraisal can usually be regained in little 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 very horrible ordeal for the parties involved, and it is often further complicated by the hard decision of who maintains the house. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from GKS Appraisal Services, regardless of the situation.
If the parties need 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 received a fair assessment.
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 entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Berks County for work
Employee relocation can be a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Close on your home quickly — at an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long properties stay on the market.