Let Frigoletto & Associates Inc. take care of your appraisal needs
Thousands of people in Massachusetts purchase, sell or refinance their home every month. A lot of these transactions include a simple line item for an appraisal. And while there are a growing number of automated home valuation systems that might appear less expensive than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. You might believe that getting a mortgage is the only reason to acquire an appraisal, but there are additional cases when the services of a certified, independent real estate professional might come in handy.
Contest your tax assessment in Worcester County
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. 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, almost all lenders ask homebuyers to take out this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is promptly forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Frigoletto & Associates Inc. can produce a statement regarding the value of your home, and the expense of the appraisal can often be offset in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is often complicated by the challenging decision of who keeps the property, and it can be a very daunting experience for both parties. 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 situation.
The parties will have a clearer picture 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 a fair and accurate valuation for estate liquidation
Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so 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.
Move to or from Worcester County for work
We are familiar with the stress involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any new sales or listings in their area that they want considered.
Sell your home quickly — for the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a reliable way to determine 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, because we're experts in knowing how long homes stay on the market.