Why you should get an appraisal from JAMES HENRY CRUPI LLC.
Year after year, thousands of people in New Jersey buy, sell or refinance their home. Many of these transactions include a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation methods that may appear to be more economical than an appraisal. You might believe that getting a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a licensed, independent real estate professional could come in handy.
Contest your tax assessment
If you live in an area where the value of property has 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 equipped to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the property, nearly all lenders ask homeowners to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
JAMES HENRY CRUPI LLC. will provide you with a statement regarding the value of your home, and the expense of the home valuation can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is often complicated by the difficult decision of who keeps the property, and it can be a particularly horrible ordeal for both parties. 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 home, regardless of the situation.
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 assessment.
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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Monmouth County for work
We understand the stress involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Sell your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees rest on our efforts to complete the appraisal report and and aren't related to the sales price.
We determine the difference in value things 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 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 properties are one the market.