6 Reasons you should order an appraisal from Frigoletto & Associates Inc.
To many, an appraisal is simply a line item in the long list of items for a mortgage or refinance. Most lenders still need a local expert because the stakes are very high, even though there are a budding number of automated home valuation systems that might seem cheaper than an appraisal. You might assume that securing a mortgage is the only reason to get an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could come in handy.
Appeal your tax assessment in Worcester County
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your home, so if values have gone down in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, almost all lenders ask home buyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Frigoletto & Associates Inc. will provide you with a statement regarding the value of your home, and the cost of the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the troublesome decision of who maintains the home, and it can be a particularly horrible occurrence for both parties. 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 house, regardless of the circumstances.
The parties will have a a good idea of what price to set, if they want 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.
Determine an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure 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 handle these matters, unlike many wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten 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. During our detailed inspection, we recommend relocating employees to provide remarks on the positive aspects of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — at 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 will help you make a more informed decision regarding your selling 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 are calculated on our efforts to finish the appraisal report.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, seeking a professional appraisal is a reliable way to determine 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.