Reasons to order an appraisal from Frigoletto & Associates Inc.
To a lot of people, an appraisal is simply a line item on the settlement sheet for a mortgage or refinance. Most lenders still call for a local expert because the stakes are so high, even though there are a growing number of automated home valuation systems that might appear less expensive than an appraisal. Is getting a mortgage the only reason to acquire an appraisal? Are there also cases when the services of a licensed, independent real estate professional might be helpful? You bet there are.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a previous assessment of your real estate, so if values are less than what they used to be 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.
PMI removal to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, almost all lenders ask homeowners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. This is bad because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Frigoletto & Associates Inc. will give you a statement regarding the value of your home. The cost of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the strenuous decision of who keeps the home, and it can be a very traumatic experience for both parties. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from Frigoletto & Associates Inc., regardless of the circumstances.
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 gotten a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The loss 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven share of the total estate value, so knowing 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.
Move to or from Worcester County for work
Employee relocation is a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information about any new sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — at an accurate 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 more informed decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, seeking a professional appraisal is a reliable way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.