6 Reasons you should order an appraisal from Frigoletto & Associates Inc.
To a lot of us, an appraisal just looks like another cost on the break-sheet for a home purchase or refinance. And while there are an increasing number of automated home valuation processes that may appear to be more economical than an appraisal, practically all lenders still need a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a certified, independent real estate professional might be beneficial.
Dispute your tax assessment in Worcester County
If you reside in an area where property values have declined, 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 appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask homeowners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate 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 appraisal can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the strenuous decision of who gets the home, and it can be a very daunting event for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Frigoletto & Associates Inc. so both parties are fully aware of the true market value of their home.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to handle these issues. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Worcester County for work
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — for the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining 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, because we're experts in knowing how long homes are one the market.