profile picture

Why you should get an appraisal

Year after year, thousands of people in New Jersey buy, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. The majority of lenders still want a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that may seem more prudent than an appraisal. You might think that getting a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a certified, independent real estate professional could be helpful.

Let JAMES HENRY CRUPI LLC. assist you in lowering your mortgage payment

Appeal your tax assessment

It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a past assessment of your house, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At JAMES HENRY CRUPI LLC., we're capable of assisting you in challenging your tax assessment.

Get rid of PMI to lower your mortgage payment

When the amount being loaned to the homeowneris more than 80% of the actual value of the home, almost all lenders ask homebuyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, JAMES HENRY CRUPI LLC. will produce a statement regarding the value of your home. 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.

Get your appraisal from JAMES HENRY CRUPI LLC.

Order today

Get a fair valuation on a home for divorce settlements

A divorce can be a particularly traumatic experience for both parties, and it is often further complicated by the strenuous decision of who keeps the house. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from JAMES HENRY CRUPI LLC., regardless of the situation.

If the parties need 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 received a fair evaluation.

Determine an accurate and fair valuation for estate liquidation

The loss of a loved one is a hard 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 utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.

Relocate to or from Monmouth County for work

We are aware of the stress involved with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information regarding any new sales or listings in their area that they want considered during our intensive inspection.

Sell your home promptly — at the right price

A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to 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. Getting a professional appraisal is a reliable way to decide what improvements will add value and what a suitable 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.

Let JAMES HENRY CRUPI LLC. help you sell your home quickly at the right price