Why order an appraisal from PLM Appraisals?To many, an appraisal is simply one more thing on the break-sheet for a home purchase or refinance. And even though there are a developing number of automated home valuation methods that may appear more prudent than an appraisal, practically all lenders still need a local expert because the stakes are so high. You might think that securing a mortgage is the only reason you should get an appraisal, but there are additional situations when the services of a certified, independent real estate professional could be helpful.
PMI removal to lower your mortgage paymentWhen the amount being loaned to the buyer is more than 80% of the actual value of the real estate, nearly all lenders ask buyers to purchase an added insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often bundled into the monthly mortgage payment and is soon forgotten. This is damaging because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI installments on most mortgages when the balance is paid down to 78% of the original value.
PLM Appraisals can give you a statement regarding the value of your home, and the expense of the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
Accurate and fair estate liquidation with help from PLM Appraisals settling an estateThe death of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires 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 maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the correct value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Let PLM Appraisals assist you in relocating to or from Hampton RoadsWe know the headaches involved with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information about any recent sales or listings in their area that they want considered during our thorough process.
Sell your home quickly at the right price with an appraisal from PLM AppraisalsWhether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision regarding your asking price. With much different interests than a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long houses are on the market. So, seeking a professional appraisal is a reliable 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 too long, costing you time and money.