Reasons to order an appraisal from JAMES HENRY CRUPI LLC.
To a lot of us, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. Almost all lenders still call in a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation processes that might appear less expensive than an appraisal. Is securing a mortgage the only reason to acquire an appraisal? Are there also cases when the services of a licensed, independent real estate professional could be helpful? You bet there are.
Appeal your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your house, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At JAMES HENRY CRUPI LLC., we're equipped to assist you in appealing your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, many lenders ask home owners to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Most often, this additional payment is bundled into the monthly mortgage payment and is soon forgotten. This is bad because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to eliminate 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 provide you with a statement regarding the value of your home. The cost of the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a particularly horrible event for the parties involved, and it is often even more complicated by the challenging decision of who keeps the property. It's a good idea to order an appraisal from JAMES HENRY CRUPI LLC. so both parties are fully aware of the true market value of their property, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
The death of a loved one is a difficult 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, guaranteeing the fullest degree of discretion.
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Monmouth County through an employee relocation program
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 attributes of their property, along with information about any new sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — at an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value items 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 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.