Let Frigoletto & Associates Inc. attend to your appraisal needs
Thousands of people in Massachusetts buy, sell or refinance their home each month. Many of these transactions include a simple line item for an appraisal. And even though there are a developing number of automated home valuation methods that might appear cheaper than an appraisal, most lenders still need a local expert because the stakes are incredibly high. Is securing a mortgage the only reason to get an appraisal? Are there more instances when the services of a certified, independent real estate professional might come in handy? You bet there are.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if prices have declined in your area, you can challenge your assessment and save money. An appraisal from Frigoletto & Associates Inc. is your best evidence when building your case. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that almost all lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is damaging because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress invoked 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.
Frigoletto & Associates Inc. will produce a statement regarding the value of your home, and the expense of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is a very horrible experience for the parties involved, and it is often more complicated by the strenuous decision of who keeps the house. 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 wish 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.
Fair and accurate estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property 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 don't have dedicated estate planners or executors to handle these affairs, unlike wealthier individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Worcester County through an employee relocation program
We understand the headaches associated 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 input on the positive attributes of their property, along with information regarding any recent sales or listings in their area that they want considered during our thorough inspection.
Close on your home promptly — for the right price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining 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 an unnecessarily long time, because we're experts in knowing how long homes are one the market.