Reasons to hire an appraiser
To a lot of people, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. And while there are an increasing number of automated home valuation methods that might appear more cost-effective than an appraisal, nearly all lenders still want a local expert because the stakes are incredibly high. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be beneficial.
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 previous assessment of your real estate, so if prices have declined in your neighborhood, 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 reduce your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask home owners to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the United States Congress passed 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 provide you with a statement regarding the value of your home. The price you paid for the home valuation can generally be offset 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 a particularly daunting experience for the parties involved, and it is often further complicated by the burdensome decision of who keeps the property. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from Frigoletto & Associates Inc., regardless of the circumstances.
If the parties need to sell the home, they'll have a a good idea 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 evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a painful 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. And seeing that 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 received an honest deal.
Relocate to or from Worcester County for work
We are aware of the headaches associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide input on the positive attributes of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Sell your home quickly — 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 can help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, getting a professional appraisal is a trusted 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.