Reasons to get an appraisal
To many, an appraisal just looks like another fee on the break-sheet for a mortgage or refinance. And while there are a developing number of automated home valuation systems that might appear to be more practical than an appraisal, the majority of lenders still call in a local expert because the stakes are incredibly high. Is getting a mortgage the only reason you should get an appraisal? Are there also cases when the services of a licensed, independent real estate professional might be beneficial? Absolutely.
Dispute your tax assessment in Monmouth County
If you live 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 equipped to assist you in challenging your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that almost all lenders ask homebuyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. This extra payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
JAMES HENRY CRUPI LLC. can give you a statement regarding the value of your home, and the cost of the home valuation can often be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be an especially traumatic experience for both parties, and it is often even more complicated by the troublesome decision of who gets the house. It's a good idea to get an appraisal from JAMES HENRY CRUPI LLC. so both parties are entirely aware of the true market value of their home, regardless of the circumstances.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a painful 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. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Monmouth County for work
We are familiar with the stress associated with an employee relocation. We take great care in establishing 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, along with information about any current sales or listings in their neighborhood that they want considered.
Sell your home promptly — for 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 regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
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 homesare on the market. So, seeking a professional appraisal is a trusted 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.