Reasons to hire an appraiser
Year after year, thousands of people in Massachusetts buy, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. While there are a growing number of automated home valuation systems that may seem more practical than an appraisal, nearly all lenders still want a local expert because the stakes are very high. Is getting a mortgage the only basis for getting an appraisal? Are there other situations when the services of a certified, independent real estate professional could be helpful? Of course.
Challenge your tax assessment
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Frigoletto & Associates Inc., we're equipped to assist you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, many lenders ask home buyers to purchase this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often lumped into the monthly mortgage payment and is soon forgotten. This is damaging because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Frigoletto & Associates Inc. will give you a statement regarding the value of your home. The expense of the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the hard decision of who maintains the home, and it can be a particularly horrible event for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Frigoletto & Associates Inc. so both parties are entirely aware of the true market value of their home.
If the parties need to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
Losing 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 highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Worcester County through an employee relocation program
We understand the headaches involved with an employee relocation. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive attributes of their property, along with information regarding any recent sales or listings in their area that they want considered.
Sell your home promptly — at the right price
A professional appraisal will help you make a more informed decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, obtaining a professional appraisal is a reliable way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.