Why you should get an appraisal
To a lot of people, an appraisal just looks like another fee on the break-sheet for a home sale or refinance. The majority of lenders still call in a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation methods that may appear more cost-effective than an appraisal. You might think that getting a mortgage is the only reason to acquire an appraisal, but there are more times when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment
If you are 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. We can assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that many lenders ask homeowners to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. This extra payment is often folded into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments 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 cost of the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a very traumatic ordeal for the parties involved, and it is often more complicated by the difficult decision of who gets the property. 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 home, regardless of the situation.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of 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 utmost 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 take care of these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Worcester County for work
Employee relocation can be a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information about any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long houses are one the market.