Reasons to order an appraisal
To a lot of people, an appraisal just looks like another fee in the long list of items for a mortgage or refinance. Even though there are a multiplying number of automated home valuation methods that might appear to be more economical than an appraisal, almost all lenders still call in a local expert because the stakes are very high. You might believe that securing a mortgage is the only reason to acquire an appraisal, but there are additional situations when the services of a certified, independent real estate professional might come in handy.
Challenge your tax assessment
If you reside in an area where the property value 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. At Frigoletto & Associates Inc., we're capable of assisting you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, most lenders ask buyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Frigoletto & Associates Inc. will produce a statement regarding the value of your home, and the cost of the home valuation can usually be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a very traumatic event for the parties involved, and it is often more complicated by the troublesome decision of who keeps the home. So both parties are entirely 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.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And 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 entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the fullest 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 handle these matters, unlike wealthier individuals. And seeing that 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 essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Worcester County for work
We are aware of the headaches involved with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide input on the positive characteristics of their property, along with information about any current sales or listings in their area that they want considered.
Close on your home quickly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. 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 rest on our efforts to finish the appraisal report.
We determine 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 propertiesare on the market. So, getting a professional appraisal is a reliable 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.