Why you should get an appraisal from Frigoletto & Associates Inc.
Every year, thousands of people in Massachusetts purchase, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. And while there are a developing number of automated home valuation methods that might seem more cost-effective than an appraisal, practically all lenders still need a local expert because the stakes are so high. Is obtaining a mortgage the only reason to get an appraisal? Are there other cases when the services of a certified, independent real estate professional could be helpful? Of course there are.
Dispute your tax assessment in Worcester County
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. An appraisal from Frigoletto & Associates Inc. is your best evidence when building your case. At Frigoletto & Associates Inc., we're qualified to assist you in disputing your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask home owners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Frigoletto & Associates Inc. can provide you with a statement regarding the value of your home. The expense of the home valuation can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the troublesome decision of who keeps the house, and it can be a very horrible experience for both parties. Regardless of the situation, it's a good idea to order an appraisal from Frigoletto & Associates Inc. so both parties are fully aware of the true market value of their property.
The parties will have a clearer picture 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 gotten a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property 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).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven 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 received an honest deal.
Move to or from Worcester County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
Close on your home quickly — for the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted 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 properties are one the market.