Reasons to get an appraisal
To many, an appraisal is simply one more thing on the break-sheet for a home purchase or refinance. Most lenders still want a local expert because the stakes are very high, even though there are a budding number of automated home valuation systems that may seem cheaper than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a licensed, independent real estate professional might be beneficial.
Contest your tax assessment in Worcester County
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Frigoletto & Associates Inc. is your best evidence when building your case. We can assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the property, many lenders ask homeowners to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is bad because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Frigoletto & Associates Inc. can give you a statement regarding the value of your home, and the price you paid for the home valuation can generally be recovered in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is an especially daunting ordeal for the parties involved, and it is often more complicated by the difficult decision of who gets the house. It's a good idea to order an appraisal from Frigoletto & Associates Inc. so both parties are completely aware of the true market value of their home, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away 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 organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home quickly — for the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide 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 are based on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesstay on the market. So, seeking a professional appraisal is a trusted way to determine what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.