FAQ's
What is your turn-around time?
Aprox. 24-48 business hours after viewing the property. Complex appraisals may take longer.
Why do I need an appraisal?
To find out what the market value of a property is. Some reasons an appraisal is needed would include (but not limited to) a mortgage refinance, buying/selling a home, second mortgage, appraisal review, Home Equity Line Of Credit (HELOC), foreclosure/REO, job relocation (Quick Sale), tax reduction consideration, PMI (Private Mortgage Insurance) removal, estate sale, and divorce settlement.
What is "Market Value"?
The most probable price which a property should bring a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated: (2) both parties are well informed advised, and each acting in what he considers his own best interest: (3) a reasonable time is allowed for exposure in the open market: (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* by anyone associated with the sale.
What is "PMI"?
Private Mortgage Insurance. This is a special insurance that lenders force higher risk borrowers to pay to protect the interests of a bank in case of default. The insurance is typically put in place when an individual borrows more than 80% of a properties value. Normally, you can contact your bank and ask for its removal when you believe that the amount borrowed represents 80% or less of the homes market value. I would suggest you call your lender to find out what their guidelines are before you do anything.
What is your Coverage Area?
I appraise properties located in Beaver County and Allegheny County
Do you accept credit cards?
No, we do not accept credit cards at this time. Only Cash, check, or money order.
Do you do “Comp Checks”?
No
What is the differences between a "Licensed" appraiser and a "Certified" appraiser?
A Licensed Residential Appraiser is not required to complete as many "Class" hours or "Field Training" hours as a Certified Residential Appraiser does. A Licensed Residential Appraiser can only appraise properties that are less difficult to appraise and the property value cannot exceed $1,000,000. A Certified Residential Appraiser has to complete more "Class" hours and "Field Training" hours than a Licensed Residential Appraiser. Additionally, a Certified Residential Appraiser can appraise more complex properties and properties that exceed $1,000,000. As of January 1, 2008 a Certified Residential Appraiser must complete 21 college semester credits or have an Associates Degree, prior to becoming certified.
Which one are you?
I am a Certified Residential Appraiser
How long have you been in the appraisal field?
Since 2003
Can you verify you have an active certification?
Yes, you can check the Appraisal Subcommittee website (click here)
What is your turn-around time?
Aprox. 24-48 business hours after viewing the property. Complex appraisals may take longer.
Why do I need an appraisal?
To find out what the market value of a property is. Some reasons an appraisal is needed would include (but not limited to) a mortgage refinance, buying/selling a home, second mortgage, appraisal review, Home Equity Line Of Credit (HELOC), foreclosure/REO, job relocation (Quick Sale), tax reduction consideration, PMI (Private Mortgage Insurance) removal, estate sale, and divorce settlement.
What is "Market Value"?
The most probable price which a property should bring a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated: (2) both parties are well informed advised, and each acting in what he considers his own best interest: (3) a reasonable time is allowed for exposure in the open market: (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* by anyone associated with the sale.
What is "PMI"?
Private Mortgage Insurance. This is a special insurance that lenders force higher risk borrowers to pay to protect the interests of a bank in case of default. The insurance is typically put in place when an individual borrows more than 80% of a properties value. Normally, you can contact your bank and ask for its removal when you believe that the amount borrowed represents 80% or less of the homes market value. I would suggest you call your lender to find out what their guidelines are before you do anything.
What is your Coverage Area?
I appraise properties located in Beaver County and Allegheny County
Do you accept credit cards?
No, we do not accept credit cards at this time. Only Cash, check, or money order.
Do you do “Comp Checks”?
No
What is the differences between a "Licensed" appraiser and a "Certified" appraiser?
A Licensed Residential Appraiser is not required to complete as many "Class" hours or "Field Training" hours as a Certified Residential Appraiser does. A Licensed Residential Appraiser can only appraise properties that are less difficult to appraise and the property value cannot exceed $1,000,000. A Certified Residential Appraiser has to complete more "Class" hours and "Field Training" hours than a Licensed Residential Appraiser. Additionally, a Certified Residential Appraiser can appraise more complex properties and properties that exceed $1,000,000. As of January 1, 2008 a Certified Residential Appraiser must complete 21 college semester credits or have an Associates Degree, prior to becoming certified.
Which one are you?
I am a Certified Residential Appraiser
How long have you been in the appraisal field?
Since 2003
Can you verify you have an active certification?
Yes, you can check the Appraisal Subcommittee website (click here)
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James Bowen Appraisal Services, LLC
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