6 Reasons to order an appraisal from Gold Coast Appraisal Group LLC
To a lot of us, an appraisal just looks like another cost on the settlement sheet for a home purchase or refinance. While there are a growing number of automated home valuation processes that might appear less expensive than an appraisal, the majority of lenders still call for a local expert because the stakes are very high. You might think that securing a mortgage is the only basis for getting an appraisal, but there are additional situations when the services of a licensed, independent real estate professional could be beneficial.
Contest your tax assessment in Bergen County
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your real estate, so if values have gone down in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask buyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the property. Most often, this extra payment is lumped into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress 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, Gold Coast Appraisal Group LLC will provide you with a statement regarding the value of your home. The price you paid for the home valuation can often 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 a particularly daunting experience for the parties involved, and it is often more complicated by the troublesome decision of who gets the house. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from Gold Coast Appraisal Group LLC, 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 gotten a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a painful 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 ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. And since a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Bergen County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive features of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining 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 homes stay on the market.