6 Reasons to order an appraisal from JAMES HENRY CRUPI LLC.
To many, an appraisal is simply one more thing in the long list of items for a home purchase or refinance. Almost all lenders still need a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation methods that may seem less expensive than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there more situations when the services of a certified, independent real estate professional could come in handy? You bet there are.
Challenge your tax assessment in Monmouth County
If you are in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from JAMES HENRY CRUPI LLC. is your best evidence when building your case. At JAMES HENRY CRUPI LLC., we're capable of assisting you in challenging your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that most lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Most often, this additional payment is folded into the monthly mortgage payment and is promptly forgotten. This is bad because PMI isn't required when the leftover 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 eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, JAMES HENRY CRUPI LLC. will give you a statement regarding the value of your home. The cost of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the challenging decision of who keeps the property, and it can be a particularly traumatic event for both parties. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from JAMES HENRY CRUPI LLC., regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The loss of 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, ensuring the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike wealthier individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Monmouth County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, along with information regarding any current sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. Unlike 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 are based on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay 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.