Why you should get an appraisal from Frigoletto & Associates Inc.
Thousands of people in Massachusetts buy, sell or refinance their home each year. A lot of these transactions involve a simple line item for an appraisal. And even though there are a multiplying number of automated home valuation methods that may appear more cost-effective than an appraisal, the majority of lenders still call for a local expert because the stakes are incredibly high. Is securing a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a certified, independent real estate professional might be helpful? You bet there are.
Contest your tax assessment in Worcester County
It's probable 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 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. At Frigoletto & Associates Inc., we're equipped to assist you in appealing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, many lenders ask homebuyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't necessary 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 dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Frigoletto & Associates Inc. can give you a statement regarding the value of your home. The price you paid for the appraisal can often be recovered in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce can be an especially daunting event for both parties, and it is often further complicated by the difficult decision of who maintains the home. So both parties are completely aware of the true market value of their home, it's a good idea to order an appraisal from Frigoletto & Associates Inc., regardless of the situation.
If the parties need to sell the home, they'll have a better 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.
Ascertain a fair and accurate valuation for 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Relocate to or from Worcester County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home promptly — at an accurate price
Whether you decide 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 when determining your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, seeking 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.