THE TOP 7 REASONS HOMEOWNERS IN PENNSYLVANIA, MARYLAND, NEW JERSEY, AND DELAWARE CONTACT US FOR HOME APPRAISALS
- Pre-listing appraisals (whether you’re using an agent or selling the home on your own)
- Challenge the County’s assessment of your property
- Remove PMI to reduce your mortgage payments
- Reinstate their Home Equity Line of Credit (HELOC)
- To review a different appraiser’s report for verification
- If real estate property needs to be divided because of a divorce
- Determine the true market value of the property in question to settle an estate
Pre-listing Services/For Sale by Owner
Since you have an emotional attachment to your own home, it’s often very hard to be objective about it. The professional appraisers at The Appraising Group will tell you what you need to know — not just what you want to hear. We are objective. A professional appraisal is very crucial as a negotiating tool once you have an attainable buyer, in addition to helping you set a realistic price to sell your home will attract interested buyers. It’s something tangible to show your buyer. An appraisal is an independent third party’s opinion of your house’s value. Potential buyers know that you have an emotional attachment to your home and will be more likely to give credibility to an expert appraiser’s value report than yours.
Do you own a home and need help to ascertain fair market value?
We at The Appraising Group understand the individual needs of a homeowner looking for appraisal services. Our business practices and reporting formats are familiar to our business clients like banks, lawyers, and accountants. As our client, you will receive extra guidance and explanations through the appraisal process to more fully understand what we do and how we report our findings.
Challenge county assessment of your property
Your local tax assessor may have overvalued your home. That means you’re possibly paying more taxes than you should. Since your property assessment may likely go up again in the next period, the sooner you take care of things like this, the better. When contesting your property tax assessment, getting an appraisal report from The Appraising Group is your #1 weapon.
Appraisals to cancel PMI
Getting the PMI (Private Mortgage Insurance) removed from your mortgage loan is an attractive money saver for homeowners. Your monthly payments will go down once your mortgage loan is down below 80% of the value of your house. In most cases you can apply to the lender to have the PMI canceled from your loan. We are experts in helping customers just like you get rid of unwanted and unneeded PMI insurance.
Recently got a freeze to your HELOC?
Even if your specific property has not declined in value, your lender just might choose to automatically freeze your home equity line of credit (HELOC) if your house is close to a declining area. This can be difficult from a cash flow standpoint, and detrimental to your credit score since it may appear as though that credit line is maxed out. The Appraising Group can help you reinstate your HELOC.
We Also Offer Field and Desktop Appraisal Review Services
Would you wish a second opinion without the added cost and delay of waiting for a whole new appraisal? Or do you desire a professional to double-check your appraisal for accuracy? An appraiser from The Appraising Group can go out and check the subject and comps in a field review. If you’re in a hurry, we’ll provide desk review and verify as many facts as we can, using online data sources as well as our own files.
Do you need a retrospective review of an appraisal report? The Appraising Group can help you with that. While typically requested by banks, you may wish to employ this service if you suspect mortgage fraud related to your house.
Quality Appraisal Reviews with The Appraising Group
As stated in an announcement by the Federal Reserve(click here), “financial institutions must have an effective, independent real estate appraisal and evaluation program” and that it’s the expectation of appraisers fulfilling reviews to “have the knowledge and expertise to assess compliance with the Federal Reserve’s appraisal regulations and guidelines.” The Appraising Group provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve’s regulations.
A review appraisal should detect: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the process by which the real estate valuation is rendered ensures independence and quality. They must also show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the depth of the appraisal assignment. The Federal Reserve also says that “some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems”.
In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we’ll formulate an appraisal review on any of them. They include an appraisal “desk” review, a “field” review, a “short” form and a “narrative” form. Here at The Appraising Group, we’re qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
The Appraising Group is aware of what amounts to a quality appraisal and what the most frequent imperfections are, specifically when it comes to our local housing market. In the same regard, we are trained enough to recognize that the competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to fairly study appraisal reports performed by others. And those others might be reviewing our work, too!
At The Appraising Group, you can have confidence in our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact The Appraising Group to learn more about our qualifications, expertise and services offered.