Why you should order an appraisal
To many, an appraisal just looks like another cost in the long list of items for a mortgage or refinance. Even though there are a growing number of automated home valuation processes that may appear more practical than an appraisal, nearly all lenders still need a local expert because the stakes are very high. Is obtaining a mortgage the only reason to acquire an appraisal? Are there more situations when the services of a certified, independent real estate professional could come in handy? Absolutely.
Appeal your tax assessment in Worcester County
If you are in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from Frigoletto & Associates Inc. is your best evidence when building your case. At Frigoletto & Associates Inc., we're qualified to assist you in disputing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that most lenders ask home owners to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Very often, this additional payment is lumped into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI is no longer required when the remaining balance 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) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Frigoletto & Associates Inc. will provide you with a statement regarding the value of your home. The expense of the appraisal can usually be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a particularly daunting experience for both parties, and it is often even more complicated by the troublesome decision of who maintains the home. It's a good idea to order an appraisal from Frigoletto & Associates Inc. so both parties are fully aware of the true market value of their house, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Worcester County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information about any recent sales or listings in their area that they want considered during our thorough inspection.
Close on your home quickly — for an accurate price
Whether you want 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. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we analyze 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 trusted way to decide 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.