Reasons you should order 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 consist of a simple line item for an appraisal. And even though there are a developing number of automated home valuation methods that might appear less expensive than an appraisal, almost all lenders still call for a local expert because the stakes are very high. Is getting a mortgage the only basis for getting an appraisal? Are there additional times when the services of a licensed, independent real estate professional might be beneficial? Of course.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your house, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from JAMES HENRY CRUPI LLC. is your best evidence when building your case. 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 most lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Very often, this extra payment is bundled into the monthly mortgage payment and is promptly forgotten. This is damaging because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress 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 produce a statement regarding the value of your home. The price you paid for the home valuation can often be recovered in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be a particularly traumatic event for both parties, and it is often more complicated by the burdensome decision of who gets the property. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from JAMES HENRY CRUPI LLC., regardless of the situation.
If the parties want to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
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 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 highest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. And since a home or other property often makes up an uneven 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 received an honest deal.
Relocate to or from Monmouth County through an employee relocation program
We are familiar with the headaches associated with an employee relocation. We take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Sell your home promptly — for the right price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you choose to sell your home on your own or with the help 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 based on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. 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 houses stay on the market.