Why you should get an appraisal from JAMES HENRY CRUPI LLC.
Thousands of people in New Jersey purchase, sell or refinance their home every year. Many of these transactions contain a simple line item for an appraisal. Even though there are a growing number of automated home valuation processes that may appear to be more prudent than an appraisal, the majority of lenders still need a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there more cases when the services of a licensed, independent real estate professional could be helpful? Of course there are.
Contest your tax assessment
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, JAMES HENRY CRUPI LLC. will give you a statement regarding the value of your home. The expense of the home valuation can generally be offset in little 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 difficult decision of who gets the property, and it can be an especially traumatic event for both parties. So both parties are fully 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.
If the parties want to sell the home, they'll have a better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidation
The death of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the highest degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. 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 vital 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
We understand the stress associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, along with information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a better educated decision regarding your selling 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 price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, obtaining 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.