Why you should hire an appraiser
To many, an appraisal just looks like a line item in the long list of items for a mortgage or refinance. And while there are a growing number of automated home valuation systems that might appear to be more prudent than an appraisal, nearly all lenders still want a local expert because the stakes are so high. Is securing a mortgage the only reason you should get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional might be helpful? Absolutely.
Challenge your tax assessment
If you are in an area where property values have declined, 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 qualified to assist you in challenging your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that almost all lenders ask homebuyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Seeing that additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, JAMES HENRY CRUPI LLC. can give you a statement regarding the value of your home. The expense of the home valuation can usually 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 event for both parties, and it is often more complicated by the difficult decision of who gets the property. It's a good idea to get an appraisal from JAMES HENRY CRUPI LLC. so both parties are fully aware of the true market value of their property, regardless of the situation.
The parties will have a clearer picture of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum 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 wealthier individuals. And since 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 essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Monmouth County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive features of their property, along with information regarding any new sales or listings in their area that they want considered during our detailed inspection.
Close on your home promptly — for the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. 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 rest on our efforts to finish the appraisal report.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long properties stay on the market.