Let Frigoletto & Associates Inc. handle your appraisal needs
To a lot of us, an appraisal just looks like another cost in the long list of items for a home purchase or refinance. The majority of lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that may appear to be more cost-effective than an appraisal. You might think 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 be beneficial.
Contest your tax assessment in Worcester County
It's quite possible 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 past assessment of your home, so if values have declined in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, most lenders ask homebuyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is quickly forgotten. This is bad because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Frigoletto & Associates Inc. will provide you with a statement regarding the value of your home. The cost of the appraisal can often be offset 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 is an especially daunting experience for the parties involved, and it is often more complicated by the burdensome decision of who keeps the house. So both parties are completely 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 circumstances.
If the parties need to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair 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 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).
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Worcester County for work
We are familiar with the headaches associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information about any new sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — at the right price
Whether you choose 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 aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to decide 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, because we're experts in knowing how long houses stay on the market.