Why you should get an appraisal from Frigoletto & Associates Inc.
Each year, thousands of people in Massachusetts purchase, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation systems that might appear less expensive than an appraisal. You might assume that getting a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a licensed, independent real estate professional could come in handy.
Dispute your tax assessment
If you live in an area where the property value has depreciated, 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. At Frigoletto & Associates Inc., we're equipped to assist you in disputing 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 property, many lenders ask home buyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Frigoletto & Associates Inc. can provide you with a statement regarding the value of your home, and the expense of the appraisal can usually be recovered 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 can be a particularly horrible experience for both parties, and it is often more complicated by the troublesome decision of who gets the property. It's a good idea to get an appraisal from Frigoletto & Associates Inc. so both parties are completely aware of the true market value of their property, regardless of the circumstances.
If the parties wish 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 assessment.
Ascertain an accurate and fair valuation for estate liquidation
Losing 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. 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 an honest deal.
Move to or from Worcester County through an employee relocation program
We are aware of the headaches involved with an employee relocation. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest 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.
Sell your home quickly — for an accurate price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to finish the appraisal report and and aren't related to the sales price.
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, seeking a professional appraisal is a reliable way to decide 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.