Reasons to order an appraisal from Gold Coast Appraisal Group LLC
Thousands of people in New Jersey buy, sell or refinance their home each year. A lot 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 an increasing number of automated home valuation processes that might appear to be less expensive than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there also situations when the services of a certified, independent real estate professional might be beneficial? Of course there are.
Challenge your tax assessment
If you reside in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Gold Coast Appraisal Group LLC is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that almost all lenders ask buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. Since the additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Gold Coast Appraisal Group LLC will give you a statement regarding the value of your home. The cost of the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a particularly traumatic experience for both parties, and it is often further complicated by the difficult decision of who keeps the home. Regardless of the situation, it's a good idea to get an appraisal from Gold Coast Appraisal Group LLC so both parties are completely aware of the true market value of their property.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine a fair and accurate 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal 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.
Move to or from Bergen County through an employee relocation program
We are aware of the headaches involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide input on the positive attributes of their property, as well as information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — at the right price
A professional appraisal can 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 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 additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable way to determine 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 houses stay on the market.